June 2nd has finally arrived and the accounting rules for the remainder of the season are now changed. From this point forward any player on a multi year contract who is released will only have his current years proration remain on the salary cap in 2017 with any future money being dumped into the 2018 league year. In addition the teams that designated players a “post June 1” cut will now remove those players from the roster. Here is a look at the teams that will benefit from the accounting changes.
Cowboys gain $14 million- Dallas is the biggest beneficiary of the year with the release of Tony Romo becoming official on the books. Dallas will still carry $10.7 million in dead money for Romo to bring their total on the year around $16 million, second highest in the NFL. Dallas also leads the NFL in dead money in 2018 with Romo counting $8.9 million on the cap. Dallas will now see their cap room increase from about $3.5 million to $17 million which gives them the room needed to extend Zack Martin or look for a backup quarterback that would cost more than the minimum.
Saints pick up $7.8 million– The Saints finally moved on from the disaster of a signing that was Jairus Byrd taking a $3.4 million hit this year and $4.6 million hit next season. The team will now have over $11 million in cap room which they can use to try to find a way to extend Drew Brees before his contract expires and leaves the team with $18 million in dead money next year. The Saints have now reclaimed their “number 1 ranking” in dead money in 2017.
Jets gain $6 million– Surprisingly the Jets used the June 1 on Marcus Gilchrist, deferring $1.375 million in dead money charges to 2018. I’m not sure what they really need the money for, though they did take on an extra $2.3 million in cap charges in the Pryor for Davis trade that happened today. Most likely this will be money that is carried over to the future or used on an in-season extension for Sheldon Richardson if they change course on him and his future with the team,
Lions gain $5.99 million– Detroit used their early June 1 designation on DeAndre Levy this offseason to avoid having a guarantee kick in on his salary. Detroit was also very tight against the cap so they can use this room to potentially help them structure a better contract offer for Matt Stafford this summer. Levy leaves the Lions with $4.8 million in dead money next year.
Falcons pick up $4.25 million– Atlanta finally gets out from the Tyson Jackson contract with this release which will see the Falcons take on $1.6 million in dead money charges in both 2017 and 2018. The move increased the Falcons cap room to about $7 million, which they can use towards and extension for running back Devonta Freeman.
Bills cap space increases by $4.2 million– This wasn’t on the transaction wire but I was told that the Bills used their June 1 on Williams this year so I am assuming that is the case. The Bills now should have over $12 million in cap room that needs to be carried over to next year as they begin to get their books in order for the future.
Chargers gain $2.5 million– San Diego gains a few dollars with the release of Orlando Franklin, but it could have been $3.5 million more had the Chargers used the June 1 in March rather than waiting so long and allowing a $3.5 million salary guarantee to kick in. That was a costly mistake. The Chargers will account for $3.2 million in dead money for Franklin in 2018.
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.