The Seahawks have a very modest amount of cap space, as it is currently. However, they can easily create additional space through 3 different methods.
I have heard many fans saying that the Seahawks don’t have enough money to sign Jadeveon Clowney, or Everson Griffin. Shoot they could even make a trade for another big-time player. However, this is simply not true. The salary cap is very flexible.
That being said, I understand why people would think this. As it is currently, the team has $14 million in cap space according to Over the Cap. Seems like we have enough to make a move for Clowney or another player.
However, as we discussed in the “True” cap space article, this is not an all-inclusive number. The Seahawks after all the expected costs are actualized will be sitting around just under $3 million in total cap space.
For the team to acquire proven entity that could drastically improve a position of need, such as Clowney. It won’t be cheap. Certainly not something they can fit under their current “true” cap. Fortunately, cap space is very malleable.
The intent of this article is to demonstrate over several ways the team can create more cap space.
The simplest way for the Seahawks to create cap space would be to restructure a contract
The team has two logical players they could restructure. The first would be Russell Wilson, the second would be Bobby Wagner. What makes them logical fits would be that they are signed for several additional seasons. They are also both cornerstones on the roster.
What restructuring a player’s contract would do, would be to move a player’s base salary for the current season into a signing bonus. This allows the team the ability to prorate the amount that was paid out via signing bonus over the remaining life of the contract.
An example using Russell Wilsons current contract
Russell Wilson’s contract has a cap hit of $31 million in 2020. This cap hit is made up of $18 million in base salary and $13 million in a signing bonus. The full terms of the contract are below.
Terms: 4 years, $140 million
Avg salary: $35 million
Gtd: 70 million
Cap hits by year:
- 2020: $31 million
- 2021: $32 million
- 2021: $37 million
- 2022: $39 million
So, restructuring the contract would turn up to $16 million from a base salary into a signing bonus. This amount would reduce the current year’s cap hit by whatever was paid out. However, it would then increase his future cap hits by the amount reduced.
Example after restructuring all $16 million into a signing bonus and the effects on his cap hits and guarantees
Terms: 4 years, $140 million
Avg salary: $35 million
Gtd: 88 million
Cap hit by year
- 2020: $15 million
- 2021: $38 million
- 2021: $43 million
- 2022: $45 million
The team needs to be very careful before deciding to restructure a player. After the base salary is turned into a signing bonus, it becomes fully guaranteed. So, if there is any semblance of doubt the player will play out the entire contract, this move could come back to bite the team in the future.
Second, it can harm the team’s future financial flexibility. Russell’s cap hit would increase each season after the restructure by $5.3 million. If the salary cap decreases, this could come back to sting in a few years.
Restructure Russell Wilson’s contract: save up to $16 million in 2020.
The next option is my favorite. Reward a player who has performed their current contract with an extension.
A name that has floated around recently for an extension is Tyler Lockett. Many questioned the Seahawks extending him in 2017, including me. However, fast forward to today and the contract is an absolute steal.
Lockett is just 27 years old and playing on a pedestrian deal worth only $10.25 million per year. The team could extend Lockett past his current contract, which ends in 2021. This would allow Seattle to push some of his current base salary to future years. This deal would also reward the player for his outstanding performance. A sign of good faith by the organization.
Current contract for Tyler Lockett
Terms: 3 years, $30.75 million
Avg Salary: $10.25 million
Gtd: 11 million
Cap hit by year
- 2020: $12.25 million
- 2021: $11.5 million
The current year’s cap hit of $12.25 million is made up of $8.5 million in base salary and $3.75 million in bonuses. The $8.5 million is the number we can push off to future seasons if an extension were to occur.
The per-year amount I have seen floating for a contract extension for Lockett has been somewhere in the ballpark of $16 million per year. This per-year amount would get him in the top 10, and deservedly so. I would propose a 2-year extension. This would keep Lockett with the Seahawks through his age 31 season.
Tyler Lockett’s extension (the two additional years)
Terms: 2 years, $32 million
Avg Salary: $16 million
Gtd: 15 million
What the total value of his contract would look like after the extension (old and new contract combined)
Terms: 4 years, $55.75 million
Avg Salary: $13.9 million
Gtd: 27 million
Cap hit by year
- 2020: $4.5 million
- 2021: $14.5 million
- 2022: $17.375 million
- 2023: $19.375 million
This move would save Seattle just under $8 million in cap space in 2020 while rewarding a top tier player with a new contract. This would be a steal and a smart investment for the team. Lockett is a selfless player who is a perfect schematic fit for the team, now and into the future.
Extending Tyler Lockett’s contract: save up to $8 million in 2020.
This is the most commonly talked-about option. Sure, teams could cut a player and recoup some cap space. However, for some players, it’s hard to see them go.
When a team needs cap space, the most common idea fans throw out would be simply cutting players. I want to cut player A, player B and player C to recoup X amount. However, cutting a player is not as simple as just gaining cap space.
It’s uprooting families. It is removing a player who has (potentially) been a strong contributor to the organization. It’s releasing a veteran demeanor or a leader for the team. It could be removing a strong community presence. Teams take all this into serious consideration before making a move.
The reward from cutting the player has to outweigh the cost of not having them around. That being said, there are a few options for players who could be cut this season. Either the team has too many players at a specific position, or it is simply time for a changing of the guards.
Players who carry at least a small amount of risk to being released/traded:
Player: Cap Hit: Dead Cap: Cap Savings:
KJ Wright $10 million $3.5 million $6.5 million
Quandre Diggs $5 million $0 $5 million
B. McDougald $5.4 million $1.3 million $4.1 million
J. Hollister $3.2 million $0 $3.2 million
David Moore $2.1 million $0 $2.1 million
Joey Hunt $2.1 million $0 $2.1 million
B. Jackson $2.1 million $0 $2.1 million
Carlos Hyde $2.75 million $750k $2 million
Ethan Pocic $1.4 million $366k $1.1 million
After this point, things get below a material level. Some of these players I would consider safe, such as Quandre Diggs. However, others like Branden Jackson and Ethan Pocic have an uphill battle to win a roster spot.
Players like Bradley McDougald and KJ Wright are veterans presences that are still solid contributors. They are also very well known in the communities, making it difficult to see the team cutting them. However, they are both fighting for their jobs this off-season with an influx of young talent at their positions.
Anyway, as you can see, if the Seahawks need to clear cap space there are several avenues they could go down. Whether it is restructuring a player’s base salary, extending a player and pushing the burden later in the contract, or releasing a player. If there is a move the team really wants to make and they need cap space. There are 3 very real options for how to create the room they need.