The Green Bay Packers took major steps towards getting under the salary cap by making three moves on Friday.
The team restructured deals for edge rusher Preston Smith and safety Adrian Amos and released tight end John Lovett, creating just over $8 million in cap space.
The Packers entered Friday at roughly $9.7 million over the cap. The majority of the cap savings came from restructuring the deals of Smith ($7.25 million) and Amos ($750,000). General manager Brian Gutekunst must now clear around $1.3 million to get under the cap by the start of the new league year on Wednesday.
Ken Ingalls has the full breakdown of where the Packers sit after making the three moves:
Updated 2021 Green Bay Packers Salary CapMoves:🔄Restructured – Adrian Amos (S) – Saves $750K❌Waived – John Lovett (FB) – Saves $120K📉Pay Cut – Preston Smith (Edge) – Saves $7.25M
Cap:💰Top 51 Space: -$1,270,223
⚠️Packers have cleared $8.12M of cap today pic.twitter.com/ojERjQzjYV
— Ken Ingalls – Packers Cap 💰 (@KenIngalls) March 13, 2021
Amos had his $1.5 million roster bonus converted into a signing bonus, while Smith took a pay cut with a restructured, incentive-laden deal.
The Packers can create more space and set up an opportunity to be active in free agency by restructuring Aaron Rodgers’ deal, although there are risks in pushing too much of his 2021 money into the future. The team can also create space by extending the deals of receiver Davante Adams and Za’Darius Smith, and defensive lineman Dean Lowry is a cap casualty candidate.
Preston Smith takes incentive-laden pay cut to stay with PackersReport: Packers lowering Preston Smith’s cap number in 2021Packers save $750K in cap space by restructuring Adrian Amos’ dealPackers waive FB John Lovett with failed physical designationPackers clear cap space by restructuring contract of S Adrian AmosPackers won’t offer restricted free agent tender to QB Tim Boyle