Rodney McLeod and the Philadelphia Eagles have agreed to a restructured contract, according to Jason Fitzgerald of Over The Cap. Fitzgerald reports the Eagles converted $3.255 million of McLeod’s base salary into a guaranteed bonus. By doing this, Philadelphia freed up $2.4 million in cap space.
The Eagles have been tight against the cap all offseason. In order to free up space, Philadelphia had a few players take pay cuts (Brent Celek, Ron Brooks) and others restructure their current deals (McLeod, Zach Ertz).
Note that McLeod 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.
The Eagles currently have $5,187,188 in cap space, according to the NFLPA’s salary cap report.