Prior to Ertz’s restructured contract, Over The Cap had the Eagles with $21,764,518 in cap room. This new developmental gives the Eagles over $27.5 million to work with. That’s good for the ninth most cap space in the league, according to Over The Cap.
To be clear, Ertz is NOT taking a pay cut. The Eagles are just moving money around.
The upside to restructuring contracts is that it frees up cap space in the short-term. The downside is that it increases cap numbers in future seasons. It’s a classic example of kicking the can down the road.
The Eagles haven’t been shy to restructure contracts this offseason. It remains to be seen exactly what they’re planning to do with all that money. Are they gearing up for a Carson Wentz contract extension? Do they just want to have the money available in case an unexpected opportunity turns up? Are they gearing up for making some post-May 7 free agency signings since the compensatory pick formula is no longer in effect at that point?