The Green Bay Packers created $1.34 million in cap space by completing a unique restructure of kicker Mason Crosby’s contract.
Bill Huber of Sports Illustrated has the details. According to Huber, the Packers not only turned $1.675 million of Crosby’s base salary and roster bonus this year into a signing bonus, but the restructure also added three voidable years to the contract, allowing the Packers to prorate the signing bonus over the full five years, instead of just the two years left on Crosby’s deal.
The restructure mechanism created a bigger chunk of cap space now in return for a dead cap hit later.
Crosby’s cap hit in 2021 dropped to $3,160,000 and rose to $4,735,000 in 2022. For a year-by-year look at his new deal, check out Over the Cap.
The void years start in 2023 when Crosby is no longer on the roster and a dead cap hit of $1,005,000 (or the final three years of the prorated signing bonus) will be due on the Packers’ cap.
Before the restructure, Crosby was due a roster bonus of $1.25 million last Friday. His base salary dropped to the league minimum ($1,075,000) for a player with 10 accrued seasons.
The restructured deal means little for Crosby and his money. He will receive the same amount, but the money is just moved around the salary cap for accounting purposes. This is not a pay cut.
The NFL’s new television deal is expected to hit the salary cap in 2023, making it easier for teams like the Packers to tack on void years and take dead cap hits that year.
Crosby, who turns 37 in September, made all 16 of his field goal attempts last season. With this new restructure, the Packers are committing to him as the team’s kicker for at least the next two seasons.
Safety Adrian Amos completed a similar type of restructuring on his deal to help create more immediate cap space.
