How much Seahawks can save by restructuring/extending key players

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SEATTLE, WASHINGTON – JANUARY 09: Tyler Lockett #16 of the Seattle Seahawks runs with the ball in the second quarter against the Los Angeles Rams during the NFC Wild Card Playoff game at Lumen Field on January 09, 2021 in Seattle, Washington. (Photo by Abbie Parr/Getty Images) /

Tyler Lockett is one of my favorite players on the roster. However, he carries a sizeable cap hit.

Lockett is one cool dude. He is the baby-faced hero the organization needed. He is a great player both on and off the field. He is the kind of player we want our kids to look up to. He is consistent, positive, honest, and slippery as hell in route running. A true competitor.

This past season Lockett broke the record for receptions by a Seahawks receiver. He is also coming off two back-to-back 1000-yard campaigns. His YAC dropped off a cliff. However, he just keeps making impossible catches game after game. A very easy player to root for.

Player: Tyler Lockett

Age: 29

Year: Base salary: Signing Bonus: Roster Bonus: Cap hit: Dead Money:

2021 $11m $2.25m $1.7m $14.95m $2.25m

How much can be saved through 6 different methods of cap savings:

Cut (pre-June 1st): $12.7m

Cut (post-June 1st): $12.7m

Trade (pre-June 1st): $12.7m

Trade (post-June 1st): $12.7m

Restructure: $0m

Extension: $9m

Lockett hit a $1.2 million boost in his contract from his past season’s stats. This has raised his cap hit to just under $15 million. However, only $2.25 million of his salary is stuck on the books if the team were to move on. If Seattle elects to trade Lockett, a la a Stephon Diggs type trade scenario, the team will recoup $12.7 million back in cap space.

If Lockett were to be extended into his 30’s, the team can shave up to $9 million off of his current year’s cap hit. Personally, I would lean toward trading Lockett if Seattle can recoup either a late first or early second-round pick. This draft is just so damn impressive in terms of receivers, the team could save a heap of money and land the next Justin Jefferson (like the Vikings did).

If Lockett’s trade value is any lower than that, I would hold onto him for 2021but not extend him. I am leery of extending a soon-to-be 30-year-old wide receiver. This is especially true with DK Metcalf likely to be a very expensive extension when that time comes. Having two expensive receivers on the roster is bad for roster construction.

Verdict: trade if the market value is a late first-to-early-second round pick. If not, leave the contract as is.

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