On Monday, the Cleveland Browns made a surprising accounting move. They restructured defensive end Myles Garrett’s contract, freeing up $12.868 million in cap space. Last week, the Browns did the same thing with guard Joel Bitonio, gaining an additional $8 million. That leaves the Cleveland Browns with $35 million in cap space, the most in the league.
This is an odd development for late August, as most of the free agents a team might want to sign are already on a roster. So what gives?
How the Cleveland Browns Could Spend $35 Million in Cap Space
When a team “reworks” a contract, what generally happens is that they take a chunk of a player’s salary and guarantee it in exchange for dumping the money onto the back end of the contract. The downside is that if the team were to cut or trade that player eventually, guaranteed money becomes dead money on the cap. Therefore, the reworking tends to only come with players the team knows with reasonable certainty that they want to keep around for a while.
Garrett and Bitonio are among the best players in the league, so they certainly qualify for restructuring. Ironically, it could be that the team wants to free up money from players it wants to keep because it wants to keep more players.
Resigning Existing Players
There are at least seven Cleveland Browns players who are in line for major contract extensions in the next two seasons. After this season, the team must decide on defensive end Za’Darius Smith, safety Grant Delpit, and wide receiver Donovan Peoples-Jones.
Peoples-Jones’ contract situation could get him traded in the next two weeks. The team has a log jam in the wide receivers’ room. With Peoples-Jones possibly ranking as low as fourth or even fifth among the receivers, the team could ship him out and claim back some of the draft stock it gave up for quarterback Deshaun Watson. It would also allow the Cleveland Browns to keep some of its younger, cheaper, and possibly just as productive pass catchers.
Smith and Delpit, however, are considered starters in the remade Jim Schwartz defense. Smith, in particular, is considered a cornerstone for the team’s new pass rush. The defensive end has been impressive in his limited time with the team thus far, and is a prime candidate for extension. His salary is $11.7M with a $10M guarantee. At 30, he won’t get a long contract. He’ll command something along the lines of $35-40M over three years, most of which will be guaranteed.
Even Bigger Names to Come
The Cleveland Browns have four major offensive players looking for big money after next season. They are wide receiver Amari Cooper, running back Nick Chubb, offensive tackle Jedrick Wills, and wide receiver Elijah Moore.
Cooper and Chubb are particularly problematic from a cap standpoint. Cooper will be 30 next season, and Chubb 28. That’s getting a bit long in the tooth for players in those particular roles. Cooper currently earns $20M annually, while Chubb takes home $12.2M. It’s safe to say neither will be looking for a pay cut. Between them, that could amount to over $50M in guarantees counting against the Cleveland Browns cap space.
Wills and Moore will have to earn their potential massive extensions. Wills, the team’s blindside tackle, could be considered the weak link on what could be considered the league’s best offensive line. The team did pick up Wills’ fifth-year option, guaranteeing a base salary of $14.175 million for 2024. Short of a disastrous two seasons, Wills will be looking for something north of $20M annually.
Moore’s situation is somewhat unique. This offseason, he was traded from the New York Jets to the Cleveland Browns. There’s a perception that the Jets gave up on Moore. However, he’s been impressive for the Browns this preseason and is widely considered a significant part of the new-look offense. Should that pan out, giving Amari Cooper $20M and not Moore could be tricky. Extending him now with some reasonable guarantees could offset a potentially larger contract down the line.
Another Big Acquisition?
Looking outside the box, the Cleveland Browns could be gearing up for a major acquisition rather than keeping their existing roster. After shelling out nearly a quarter billion in guaranteed money to quarterback Deshaun Watson, the team is widely considered to be in a win-now mode.
There’s generally a disgruntled star or two out there who could be a missing piece for a team like the Browns. One rumor that won’t die is Buffalo Bills wide receiver Stefon Diggs is, yet again, looking for the next plane out of upstate New York.
Putting Diggs on the field opposite Cooper is a formidable idea. It would give Watson quite literally every chance to succeed. Diggs is rated No. 16 on the list of the Top 100 players in the league. Cooper has been on the list himself in years past. Chubb is No. 29. The offensive line is great.
If nothing else, the idea is entertaining, even if it’s completely far-fetched. Even though the Browns can now absorb the contract, likely, Buffalo couldn’t eat the dead money, currently set at $45M.
But it’s fun to think about.
Main Photo: Scott Galvin – USA Today Sports
