The Eagles announced that they and Alshon Jeffery agreed to a restructured contract.
#Eagles and WR Alshon Jeffery agree to terms on a restructured contract.#FlyEaglesFly— Philadelphia Eagles (@Eagles) September 7, 2019
The big takeaway here is that the new deal guarantees his salary in 2020. Though his contract ran through the 2021 season, Jeffery had no guaranteed salary in his contract after this season.
Don’t read too much into the timing of this in regards to other NFL transaction news that happened today. Restructuring the contract prior to the beginning of the season rather than during the season gave the Eagles the most salary cap flexibility to work with. In exchange for guaranteed money in 2020, Jeffery is taking either a salary pay cut in 2019, converted some of his salary into a bonus, or most likely both. In March Jason Peters redid his contract, in April Zach Ertz converted salary to bonus. Per Over the Cap, Jeffery was scheduled to have the team’s highest individual cap hit at $14.725 million.
No further details are available at this time, when they become available we’ll update you.