The Eagles have opened up a huge chunk of salary-cap space by converting part of defensive tackle Fletcher Cox’s base salary into a signing bonus.
According to ESPN’s Field Yates, the Eagles made the conversion on Saturday, turning $13.92 million of Cox’s base salary into a signing bonus. The move opens up $11.14 million in cap space, according to Yates.
Cox’s base salary was initially set at $15 million, according to Over The Cap. Converting Cox’s salary into a signing bonus will spread out his cap hit throughout the remainder of his contract, meaning the Eagles will still incur significant cap charges in the future. Essentially, this move helps this season while taxing future seasons.
However, with the salary cap expected to rise significantly over the next few years, the Eagles are betting that Cox’s future charges won’t be all that detrimental to their available spending.
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The conversion was made on the same day that left tackle Jordan Mailata agreed to a four-year, $64 million contract extension with the franchise. Cox’s conversion likely aided the Eagles with their structuring of Mailata’s contract this season and beyond. The extra cap funds will now allow the Eagles to pursue additional contract extensions or roll over more money into next year’s cap.
The Eagles have quite a few contract-extension candidates on the roster. Tight ends Zach Ertz and Dallas Goedert have both been vocal about their desire for raises and contract extensions. Defensive ends Derek Barnett and Josh Sweat, like Ertz and Goedert, are both in the final year of their respective contracts. Nickel cornerback Avonte Maddox is also in a contract year, while starting linebacker Eric Wilson, safety Anthony Harris and cornerback Steven Nelson all signed one-year deals this offseason.
With so many notable players set to enter free agency next year, the Eagles are likely getting ahead of what will be a monumental free agency period for the franchise. The team will need to re-sign some of those starters and/or replace some notable names. Given the amount of money opened up by Cox’s signing bonus, the Eagles should have cap flexibility now and in 2022.
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Mike Kaye may be reached at mkaye@njadvancemedia.com.
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