Packers shave money off salary cap with three low-cost deals
GREEN BAY - The Green Bay Packers are about $3.35 million under the salary cap after re-signing tight end Marcedes Lewis, defensive tackle Tyler Lancaster and safety Will Redmond.
According to salary information provided by an NFL source, the combined salary-cap cost of the Lewis and Lancaster deals resulted in a $2,072,262 sum reduction in the Packers' overall cap number, leaving them $3.49 million under their limit.
Redmond’s deal wasn’t available, but it’s likely his cap cost will shave about another $150,000 of the cap.
The current space is enough for the Packers to fit their entire draft class under the cap and makes it so it’s not necessary to cut any players or adjust anyone’s contracts for the time being.
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Lewis signed a four-year deal worth $8 million, however it’s for all intents and purposes a two-year deal because it includes two automatically voided years. The extra years allow the Packers to spread the salary cap cost of a $2.1 million signing bonus over four years as long as Lewis is on the team.
The deal features base salaries of $1.15 million in 2021 and $1.17 million in '22. There is a $2.08 million roster bonus due next March and in each of the first two years $700,000 maximum per-game roster bonuses and $50,000 workout bonuses. His '21 cap is $2,383,824, his '22 cap is $4.525 million and he has $525,000 of pro-rated signing bonus that are tied to each of the voidable years.
Lancaster signed a one-year deal worth $1.25 million that includes a $200,000 signing bonus, $920,000 base salary, $25,000 maximum per-game roster bonus and $105,000 workout bonus. His salary-cap number is $1,248,438.