During the NFL offseason, fans generally focus on the trade market, free agency and the draft. Teams, however, have a lot more on their plates than player acquisition. There's plenty of in-house management to be done, and addressing existing contracts is usually part of the equation.
NFL contracts are an interesting entity. They're rarely fully guaranteed and can be terminated seemingly at will by the franchises that sign them. We'll see cases of that in 2022 as players get released as cap casualties.
Sometimes, though, teams and players agree to restructure their deals. Whether it's to extend a pact, reward someone for recent achievements, or—as is usually the case—provide cap relief, restructuring and renegotiation have become common practices.
It typically involves converting base salary into a bonus that is then spread over additional years. This helps to lower the cap hit in the current year, but it can also be used as part of a contract extension. Last offseason, for example, Tampa Bay Buccaneers quarterback Tom Brady signed a one-year extension that helped take $19.3 million off the 2021 cap.
Here, we'll examine eight players who are prime candidates for a contract restructuring before free agency opens March 16. Each situation is unique, and we'll dive into them here.
Cole Beasley, WR, Buffalo Bills
In 2020, Buffalo Bills receiver Cole Beasley finished with 82 receptions, 967 yards and four touchdowns. Last season, he caught the same 82 passes but for only 693 yards and one score. However, he remained one of quarterback Josh Allen's most trusted targets.
But the wideout will turn 33 in April, is entering the final year of his contract and is set to carry a cap hit of $7.6 million. Buffalo, meanwhile, is projected to be $1.3 million over the cap. A restructuring would make a ton of sense.
"First, Beasley is under contract for 2022. Second, Allen likes and trusts Beasley a great deal. And third, the Bills will want to minimize the turnover at receiver," Joe Buscaglia of The Athletic wrote. "But something has to give."
Only $1.5 million in dead money remains on Beasley's deal. The Bills could convert a large chunk of the remaining $6.1 million into a bonus that is prorated over future years that may or may not automatically void. Given Beasley's value, extending the receiver for another year or two is logical.
Amari Cooper, WR, Dallas Cowboys
Dallas Cowboys wide receiver Amari Cooper had a down year in 2021. The 27-year-old followed back-to-back 1,100-yard campaigns with just 865 yards in 2021.
While Cooper did catch eight touchdowns, his production didn't match his upcoming cap hit of $22 million. Dallas, meanwhile, is projected to be $21.2 million over the cap.
The Cowboys could save $16 million by releasing Cooper, but that feels unlikely. Dallas could lose pass-catchers Michael Gallup, Dalton Schultz and Cedrick Wilson in free agency. Keeping Cooper makes sense.
A simple restructuring would also make sense for the Cowboys. If Dallas can convert most of his $20 million base salary into a bonus that spreads over the final three years of his contract—and possibly into future phantom years—it could get substantial cap relief.
With Cooper signed through 2024, an extension need not be part of the deal.
The added money could help get Dallas under the cap and potentially be used to help re-sign one of the team's impending free-agent pass-catchers. That would provide a big boost to the Cowboys' chances of repeating as NFC East champions.