Recapping Monday’s Pre-Free Agency Transactions


Nobody is safe this time of year.  Yesterday’s free agency eve was as busy as it gets in terms of transactions—there was movement all over the league.  Below is a summary of what went on yesterday (and some of this morning). The site will be constantly updated throughout the day.  Updates will be provided later on once free agency shifts into full gear (officially at 4pm, but seemingly has already started). Remember to follow Jason or myself on Twitter for salary cap updates.

Note: The NFL will charge every team $504,000 for workout money today. These charges are already accounted for in our accounting estimates. Our available cap space list is constantly being adjusted, so remember to keep checking back for adjustments made.

Darrelle Revis, who will apparently will be making his exit from Tampa Bay one way or another, was Monday’s biggest news . Yes, Revis makes $16 million a year. No, none of his salary is guaranteed.  The deal, structured in “pay-as-you-go” form, is football’s most unique contract. Jason provided an in-depth analysis of the situation late last night.

Monday’s other big move was Seattle’s resigning of top pass-rusher Michael Bennett to a 4-year contract. His page will be updated once we receive all of the specifics of his deal.

A day after cutting Antonio Cromartie, the Jets parted ways with Santonio Holmes. Their books were also adjusted due to a 2013 grievance that ended up not counting—Gang Green picked up $1.775 million in cap room here. Ultimately, yesterday propelled the Jets into a top five “available cap space” rank. We now have them with an estimated $40,089,361 to work with in free agency, and this is with Mark Sanchez still on the books.

Pittsburgh parted ways with linebacker Lamar Woodley yesterday.  Since they designated him as a June 1st cut, the move will not help them in free agency. The transaction won’t kick in until June 2nd–he still carries his current $13.59 million 2014 cap hit until then. On June 2nd the Steelers will clear $10.6 million in cap space (his 2014 base salary + 2014 signing bonus proration), and will carry an $8.58 million cap hit for Woodley in 2015. Steelers cornerback Ike Taylor also agreed to a paycut yesterday.  Reports state that the Taylor slashed his 2014 base from $7 million to $2.75 million, creating $4.75 million in cap space.

Reports surfaced that the 49ers parted ways with Carlos Rodgers. We’ve also received information that the contract of the recently re-signed Anquan Boldin includes 3 voidable years, lowering his 2014 cap hit to $2,364,000. San Francisco should now have about $15.7 million in available cap space once both moves are accounted for.

The Patriots gained around $1.8 million in cap space yesterday as a result of their treatment of Brandon Lloyd’s option & settlement with Jon Fanene. We now have them with almost $15 million of cap room.

The Giants also had a busy day. Guard Chris Snee agreed to a massive pay cut, reducing his base from $6.75 million to $1.1 million (with another $1 million in incentives). Punter Steve Weatherford reportedly agreed to a restructure (terms not yet available). They then released oft-injured center David Baas. Baas’ $8.2 million cap number was a result of restructuring his contract in each of the past two offseasons, The Giants absorbed $6.45 million in dead money and saved about $1.8 against the 2014 cap with the Baas move.  Big Blue also reportedly resigned Peyton Hillis and Trumaine McBride, so their cap situation is pretty fluid right now.

Cornerback Dimitri Patterson’s release saved the Dolphins $5.3 million against the 2014 cap. The Dolphins didn’t absorb any dead money with the move. They also signed Lions safety Louis Delmas. The specifics of this deal are not yet in. Miami also reportedly is likely to sign free agent LT Branden Albert in a few hours.  I expect them to be pretty active, so keep an eye on our adjustments for Miami.

Jacksonville picked up just over $6 million in cap space when Jason Babin voided the final two years of his deal. Adam Schefter just reported that the Jags have cut running back Justin Forsett, which would account for $1.15 million in cap savings. They have way more money than they’ll be able to spend.

St. Louis released veteran guard Harvey Dahl, saving $4 million in the process.