The Philadelphia Eagles freed up some cap space on Monday by restructuring Zach Ertz’s contract, according to a report from ESPN’s Field Yates. Yates reports $3.225 million of Ertz’s base salary was converted into a guaranteed roster bonus, which means the Eagles save $2.58 million in cap room.
Entering Monday, the Eagles had the fewest amount of cap space in the league at just over $3 million. Now the Eagles should be at around $5.645 million (not factoring in the Nick Foles signing) and more savings could be on the way. Philadelphia will reportedly cut Chase Daniel so that will save at least $1 million and potentially even more. The Eagles can also makes some obvious trades (Jason Kelce, Mychal Kendricks) and cuts (Ron Brooks, Ryan Mathews) that would save significant money.
The Eagles still have some glaring roster holes (they need two new starting cornerbacks!) so the team could be gearing up to add depth in the second wave of free agency.
Note that Ertz restructuring his deal does not constitute as a pay cut. He’s still receiving the same amount of money. This restructure only saves cap space in the short-term while increasing his cap figure in future years. In other words, the Eagles are kicking the can down the road a little. But clearly they feel it’s necessary in order to make some more moves in free agency.