The Washington Redskins found another way to free up cap space for the upcoming year.
The team decided to restructure veteran wide receiver Santana Moss’s contract. Moss was set to make around $4 million this coming year, and was only under contract for 2013.
The move comes hours before the NFL free agency year opens at 4:00 p.m. eastern time and could have some bearing on what moves the team can or cannot make.
Hearing that #Redskins have gained $2 million in cap space by restructuring WR Santana Moss’ contract. Should be more than $3M under cap.
— David Elfin (@davidelfin) March 12, 2013
The details of the restructure are not fully known. What we do know is Santana was not extended, he simply had base pay converted to incentive pay (meaning his pay will be determined by his production on the field). This move was necessary from the point of view that the Redskins still don’t have Fred Davis under contract and now have a huge hole at cornerback after veteran DeAngelo Hall was cut yesterday.
The Moss restructure leaves the Redskins about $3 million over the cap. With the team needing around $4-5 million to sign their rookies post draft this year, expect more restructures or cuts soon.
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