Titans create over $11M in salary cap space by restructuring Julio Jones’ contract
The Cowboys converted $6.25M of QB Dak Precott's base salary into a signing bonus, creating $5M in cap space.
The Titans converted $14M of WR Julio Jones' salary into a signing bonus, creating $11.2M in cap space (adding two void years as well).
— Field Yates (@FieldYates) September 7, 2021
A restructuring of Julio Jones’ contract has created over $11 million in cap space for the Tennessee Titans.
According to Field Yates of ESPN, the Titans converted $14 million of Jones’ base salary into a signing bonus and added two void years to the contract, allowing the team to drop his cap number in 2021 to $4.1 million.
The $14 million signing bonus will now be prorated at $2.8 million per year and applied to the Titans cap over each of the next five seasons. The void years on the deal come in 2024 and 2025.
Jones’ original cap number after being traded to the Titans was $15.3 million.
After the restructuring, Jones’ cap number will rise to $14.3 million in 2022 and 2023.
According to Over the Cap, the Titans now have around $5.6 million in cap space to start the 2021 season.