The New England Patriots are staying busy, both on the field during training camp and at the negotiation table. According to NFL Network’s Mike Silver, New England has restructured Marcus Cannon, giving him an additional $4.5 million in guaranteed money. This move doesn’t add any additional years to Cannon’s contract but it should clear up some cap space.
New England Patriots Restructure Marcus Cannon
Silver notes that in addition to the $4.5 million in guarantees, this deal could also raise the overall value of Cannon’s contract to $24 million. Cannon initially signed a five-year, $32.5 million extension with New England following his Second-Team All-Pro 2016 campaign.
Marcus Cannon initially joined the Patriots as a fifth-round pick in the 2011 draft. Seen by many as a first-round talent, Cannon’s draft stock plummeted when he was diagnosed with non-Hodgkins lymphoma in the leadup to the 2011 NFL Draft. New England took a risk on Cannon, and the decision paid off. After spending the first few years of his career coming off the bench, Marcus Cannon became a regular starter in the 2016 season. Additionally, he also served as the top tackle off the bench whenever Nate Solder or Sebastian Vollmer got injured.
The exact details of this contract are not available to the public, so nobody knows exactly how much cap space this frees up. That said, @patscap estimated that the Patriots should get $3 million in spending money for the 2019 campaign. There is a downside, however, as Cannon’s cap number will likely rise in the 2020 and 2021 seasons.
Without knowing the details of the incentives this deal should create a maximum of $3 million in cap space. If this deal contains LTBE incentives for the 2019 season, that will decrease the amount of cap space created. Cannon’s 2020/2021 cap numbers should increase https://t.co/U6VqXE8WWA
— Miguel Benzan Patriots Cap Space is 10,078,880 (@patscap) July 29, 2019
Prior to the restructure, the Patriots had just short of $5 million in cap space and had signed all their rookies to their respective contracts. While it’s important to keep some cap space open, New England doesn’t appear to have a pressing need for financial flexibility. The Patriots could be freeing up space for a big-name trade, or they could just be adding space when they inevitably have to sign somebody following an injury.
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