As the second wealthiest man on the team, let’s look into how much can be saved this upcoming year on Bobby Wagner’s contract.
He is a phenomenal player and a great teammate. He is definitely paid like it as well. He carries the largest cap hit amongst inside linebackers in the NFL by a decent margin. 2021 will be the second year on a three-year extension signed in 2019. So, what does his contract look like, and how can Seattle rework it to make sense?
Player: Bobby Wagner
Year: Base salary: Signing Bonus: Roster Bonus: Cap hit: Dead Money:
2021 $13.15m $3.75m $250k $17.15m $12.5m
2022 $16.35m $3.75m $250k $20.35m $3.75m
How much can be saved through 6 different methods of cap savings:
Cut (pre-June 1st): $4.65m
Cut (post-June 1st): $8.4m
Trade (pre-June 1st): $9.65m
Trade (post-June 1st): $13.4m
More or less, regardless of how Bobby Wagner and the Seahawks go, there would be savings. Cutting Bobby Wagner before June 1st wouldn’t happen. The savings compared to the dead cap would render this more or less a useless loss of talent. Cutting after June 1st has a very small chance of happening. However, it would be ill-advised.
Realistically, the only way Seattle moves on from Wagner would be via trade. He simply carries too much value and the savings would be maximized. If he were to be traded before June 1st, the cap savings would be quite a bit smaller.
If he were to be traded after June 1st, the savings would be roughly 75% of the total cap hit in 2021. However, the draft would have already occurred. Meaning any picks acquired would be for the 2022 NFL draft. Not ideal.
This is another contract I would be wary of restructuring. Money saved this year would bump up next year’s already sky-high cap hit of $20 million. Bobby Wagner is very likely with the Seahawks in 2021 on the same deal he currently plays on.
Verdict: Don’t do anything with this contract.