It is June 1 and in the NFL June 1is a big date as it is the final day that will see all future prorated money accelerate as “dead money” if a player is released. Starting tomorrow any player who is released will only have his current season’s prorated money count against the salary cap and the rest will be deferred to 2023. A number of teams will also pick up salary cap room tomorrow as any player designated a post June 1 release earlier this year will finally move from the active roster to the dead money side of the ledger. Here is a look at how much each team will pick up.
Raiders- $19.75 million
The team had basically made a mess of linebacker Cory Littleton’s contract which forced them to use a June 1 to release him due to the huge dead money figure left on the books. Littleton had counted for $15.678 million and now will count for just $4.018 million in dead money this year. The Raiders will carry $9.986 million in dead money in 2023. Littleton is currently playing on a $2.6 million contract with the Panthers.
Carl Nassib was a somewhat aggressive signing by the Raiders that didn’t work out but salary cap issues forced them to continue to push money out in his contract. Nassib was up to a $9.625 million cap charge in 2022 and that will reduce to $1.652 million. $4.95 million in dead money remains in 2023. Nassib is currently out of the NFL.
Titans- $9.5 million
The team took a chance on Julio Jones and it wound up being a big miss for the Titans who move away after just one season. Jones had a $14.3 million cap hit and a $2 million guarantee this season. The June 1 designation allows the Titans to take a $4.8 million cap hit this year and defer $8.4 million to 2023. With just $3 million in cap space the Titans needed this one. Jones is currently out of the NFL.
Commanders- $11.88 million
Landon Collins was a prized signing by Washington in 2019 and four years later was a June 1 cut. Collins had a salary cap figure of $15.7 million which will reduce to $3.825 million. Collins will still count for $5.025 million against the 2023 salary cap. Collins is currently not in the NFL.
Cowboys- $10 million
The Cowboys seemed to reach their limits with La’el Collins following a suspension last season. His cap figure had ballooned to $14.93 million and they were unable to find a trade partner so they used the June 1 instead. Collins will count for $4.93 million on the 2022 cap for Dallas and around $8.4 million next season. Collins signed a three year contract with the Bengals worth $7 million a year following his release.
Cardinals- $10 million
Arizona signed Jordan Phillips to $10 million a year contract in 2020 but his cap figure had exploded to over $13.3 million this season which led to the June 1 cut. He will count for $3.301 million on the cap this year and $5.9 million in 2023. Arizona had just $3 million on the cap prior to this. Phillips will play for the Bills this year for $5 million.
Browns- $9.5 million
The Brows decided to stick with David Njoku and let Austin Hooper go this offseason. The Browns made Hooper the highest paid tight end in NFL history in 2020 and he lasted just two seasons with the team. Hooper had counted for $13.25 million on the cap and that will reduce to $3.75 million. Hooper’s 2023 dead money will be $7.5 million. Hooper is playing on a $6 million contract with the Titans
Bears- $8.19 million
Danny Trevathan signed a questionable contract two years ago and this seemed like a likely result shortly after the signing. Trevathan had a $5.7 million salary cap charge for the Bears this year and that will reduce to $1.525 million….Tarik Cohen had also signed with the Bears in 2020 and injuries didn’t even give him a chance to really justify the contract. His cap hit this year was $5.75 million and will reduce to $1.75 million with $1.75 million deferred to next year. Both are out of the NFL.
Eagles- $5.3 million
Philadelphia had designated Fletcher Cox as a post June 1 cut at the start of the new league year, though they did wind up re-signing him to a contract this year. Cox’ prior contract had counted for $14.9 million on the salary cap but that should reduce to about $9.6 million. Cox’ contract did contain an option bonus and there is a chance that it will remain which would reduce the savings by $3.2 million, but not to worry that would simply be added to the Eagles 2023 salary cap. Cox will count for over $15 million on the 2023 salary cap.
Seahawks- $5.1 million
Seattle moved on from veteran Carlos Dunlap earlier this year opting for the June 1 designation due to the void year acceleration that would have hit the cap. Dunlap’s $6.5 million cap charge will reduce to $1.4 million this year with $4.2 million hitting the 2023 salary cap. Dunlap is currently out of the NFL.
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.