Josh restructure creates 16.7 million in cap space

[Novacane]

Hadn't seen this yet.

https://www.nbcsports.com/nfl/profootballtalk/rumor-mill/news/bills-restructure-josh-allens-contract-creating-16-7-million-in-cap-space

[Woodman]

Via Field Yates of ESPN.com, the Bills restructured the contract of quarterback Josh Allen. The move reduces his cap number from $47.056 million to $30.356 million.

Obviously, the Bills will have to deal with the $16.7 million in the future. And it won’t get any easier next year, with his cap number for 2025 now at $60.7 million.

At some point, Allen will need a new deal. His current contract averages $43 million annually, and his cash payout for 2024 is $30 million. As one of the top two or three players in the league, he’ll need an adjustment sooner than later.

[notacon]

Interesting that they did not use up all the amount they could have saved in 2024 cap space as they could have gained an additional $6M if they wanted to.

No doubt Beane is looking to future years and avoiding putting too much on the cap credit card.

Also interesting is that Josh will account for 11.89% of the 2024 cap. In 2023, the average of the top 10 cap hits for QB's as percentage of the cap was 11.32%. Josh was #11 with 8.29%.

2024 is going to take time to shake out, but as of today, the average of the top 10 cap hits for QB's as percentage of the cap is 18.49%

Mahomes is #1 (for now) with a whopping 25.05%. Josh is #10 with his reasonable 11.89%

That puts the Bills in very good shape for 2024 cap with (probably) the second best QB in the NFL.

[Forward_Lateral]

I would wager that within the next couple of offseasons a few more years are added to Josh's contract.

[Novacane]

I would wager that within the next couple of offseasons a few more years are added to Josh's contract.

I was kind of expecting that this year.

[Forward_Lateral]

I was kind of expecting that this year.
I was too, but I didn't realize his contract is until 2029. I thought it was 2027 for some reason

[Woodman]

Mahomes just restructured his contract as well saving a little more than 21 million.

[notacon]

Mahomes just restructured his contract as well saving a little more than 21 million.
That moved Mahomes down to #6 in percentage of cap (so far) for 2024 down to a more reasonable 14.54%.

That also reduced the average of the top 10 cap hits for QB's as percentage of the cap is 16.97%. Which is still too high and almost assuredly will come down as contracts are re-worked

Only eleven QB's are (again, as of today) over 10% of the cap. Joe Burrow is #10 at 11.63%. #11 is Geno Smith at 10.34%.