The Browns performed their annual restructuring of QB Deshaun Watson’s contract, converting $44.745 million of his salary into a signing bonus. The move reduced Watson’s 2025 cap figure by $35.796 and increased his 2026 and 2027 cap figures by $8.949 million each season. The rest of the prorated money will be included with his 2028 dead money charge after he is removed from the roster.

Watson’s 2026 salary cap charge now stands at $81.7 million with a chance to be reduced by any insurance proceeds that come the Browns way due to Watson’s injuries. The Browns will likely restructure his contract one last time next year to bring that number down by a similar amount as this year. If the contract goes untouched the Browns will be left with a $26.855 million cap charge in 2027 when Watson is designated as a post June 1 release. There will be a $26.857 million cap charge in 2028 that will cover the balance of the accelerated prorated money and that will be the end to what has turned out to be the worst trade and contract in NFL history.

The Browns are now under the salary cap. We estimate that they have around $12.6 million in cap room following the Watson restructure. That is the 7th lowest number in the NFL.