Deshaun Watson, Browns restructure QB’s deal to open up cap space
The Browns made the move that was always expected in advance of the new league year, restructuring quarterback Deshaun Watson’s deal in order to open up room under the salary cap.
A league source confirmed to the Beacon Journal Monday morning that the team had restructured Watson’s base salary of $46 million to free up nearly $36 million in cap space, just hours before the NFL’s legal tampering period begins. NFL Network’s Ian Rapoport was the first to report.
According to Spotrac, the Browns converted $44.835 million of Watson’s salary into a signing bonus, while adding a void year in 2027. The move cleared $35.868 million cap space.
Watson’s base salary in 2023 will be $1.165 million.
Watson was originally scheduled to count as a $54.993 million hit against the cap this season through the 2026 season. It was, by far, the largest cap hit for any individual player not just on the Browns, but across the NFL.
The new cap number for Watson this season is $19.125 million. The next three seasons, 2024-26, the number will be $63.96 million, while there will be a $8.967 million void year in 2027.
The original deal called for Watson to receive a guaranteed salary of $46 million. A prorated bonus of $8.933 million was also included to create the original cap number.
Because of that original cap number, the Browns found themselves more than $14 million over the cap, which was set at $224.8 million. Now, they’ll free up more than enough space in order to make roster upgrades once the new league year begins Wednesday at 4 p.m.
Watson’s initial five-year, $230-million fully-guaranteed contract that he signed when he was acquired in a trade from the Houston Texans last March 18 was structured similarly to most long-term deals Browns general manager Andrew Berry has negotiated. The first year is extremely team friendly — a $1.035 million base salary and a $9,395,500 cap hit — before it goes up in the second year.
Watson’s deal may not be the only one the Browns restructure this offseason. Defensive end Myles Garrett ($29,176,120 cap hit), receiver Amari Cooper ($23.776 million) and right guard Wyatt Teller ($15,426,300) also could be candidates to have their contracts reworked in free up more space.
The Browns already opened up $9.75 million off the cap with the decision to release safety John Johnson III with a post-June 1 designation. They freed up another $1.765 million by restructuring the final year of receiver/return man Jakeem Grant’s deal two weeks ago.
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