May 27, 2017
According to Jason Fitzgerald of OverTheCap.com, the Philadelphia Eagles cleared up $2.4 million in cap space by restructuring the contract of safety Rodney McLeod.
The #Eagles created about $2.4 million in cap room by converting $3.225M of Rodney McLeod's salary to a bonus https://t.co/eKGS9DfqMf
— Jason_OTC (@Jason_OTC) May 27, 2017
The Eagles previously had the least amount of money under the cap in the NFL prior to the move. Now there are six teams with less, according to OverTheCap.
The move will give the Eagles an immediate savings, but will spread McLeod's cap hit into future years. From McLeod's perspective, the short explanation is that he simply gets a lump-sum cash advance on his pay, which is a no-brainer for the player.
The Eagles also restructured Zach Ertz's contract back in March, the same day they signed Nick Foles to a two-year contract. We'll see if the Eagles made this move to free up space for a roster move once again.
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