PurplePTSD: The Top 3 Contract Extension And Restructure Candidates

Press release from the PurplePTSD:

Henrique Gucciardi

2022-02-19

Now that the Super Bowl is over, all of the 32 teams are officially in offseason mode. Another good way of creating cap space to work with during free agency is by reworking some veteran deals. That’s what we’re going to talk about today. Since we’re not going to get rid of anyone here, the focus will only be on how to create some cap space for 2022 and beyond. Yes, I’m pushing money towards 2023-2024 with the expectation that the salary cap will be much bigger. The contract info comes from Spotrac.

Thielen had his contract restructured last year, one of the reasons his cap hit in 2022 is almost $17 million. Don’t get me wrong, I love Thielen and he absolutely deserves this money. But it’s also a lot of money for a 32-year-old player. The remaining of his contract is very expensive, with almost $18 million next year and a little more than $17 in 2024. The most logical solution (in my opinion) is to take his $12 million base salary and transform it into a signing bonus. But that will make his cap hit even bigger in 2023 and 2024. So another possibility is to ask Thielen to take a pay cut and add some stats-based incentives, giving him the ability to earn the money back.

This deal would be to save future money. Irv is going for his fourth season, meaning he’s already eligible to sign a contract extension. We know he’s still young (will be 24 when the season starts), talented, and has a very high ceiling. Irv was a breakout candidate, though he was injured his knee before last season. New Vikings head coach Kevin O’Connell will certainly use his skillset in a variety of ways, aligning him as a tight end, slot receiver, or even outside (if Conklin did it, why not Irv?). If Kwesi doesn’t offer Irv an extension now, the team will risk having to pay him more in 2023, first because he’ll probably put himself in a position to receive more and also to stop him from exploring the open market. A deal now could save the team a lot of future money.

Dalvin is in a situation similar to Thielen’s. He’s a great player and undoubtedly one of the best backs in the league. But the team can’t afford to pay $12 million to a running back that is injured a lot. O’Connell will most likely bring his version of McVay’s offense to Minnesota. One that uses 11 personnel a lot, focuses more on the passing attack and can be efficient without a stellar RB. Cook can do more than the Rams’ backs; that’s why he’s on this list and not on the cut or trade ones (also because his contract carries a lot of dead money). He’s another player that could get the contract restructured, but I believe the front office will try and ask him to take a pay cut, like Thielen. A reworked deal could pay him less, but with more guarantees and some bonuses.

We now finished the first part of this series, which was how the Vikings can create cap space. The next one is exploring free agency and draft, to see how the team can be a contender in 2022.

This press release was produced by the PurplePTSD. The views expressed here are the author’s own.