In the scramble for salary cap space the Chicago Bears decided to restructure the contract of DE Julius Peppers to free up $2 million in cap. Per a source with knowledge of the contract, Peppers reduced his base salary from $12.9 million in 2013 to $9.9 million with the difference being prorated over the final three years of the contract.
Clearly the Bears could have gone much further with the restructure if needed, but the Bears are doing their best to manage the cap without doing much damage to future seasons. This $2 million in savings was likely the least amount the team felt they needed to function smoothly at the start of the 2013 league year. Peppers 2014 cap number will rise to $18.18 million and his dead money increases to $8.36 million, making him a target for either a June 1 cut designation or a candidate for a contract extension.
Jason is the founder of OTC and has been studying NFL contracts and the salary cap for over 15 years. Jason has co-authored two books about the NFL, Crunching Numbers and the Drafting Stage, which are widely circulated in the industry and hosts the OTC Podcast. Jason’s work has been featured in various publications including the Sporting News, Sports Illustrated, NFL Network and more. OTC is widely considered the leading authority on contract matters in the NFL.