The start of June has served as a key NFL financial period for decades. While teams no longer have to wait until after June 1 to make that cost-splitting cut designation, teams pick up the savings from those transactions today. With a handful of teams making post-June 1 cuts this year, here is how each team’s cap space (courtesy of OverTheCap) looks as of Friday:
- Chicago Bears: $32.58MM
- Carolina Panthers: $27.25MM
- Arizona Cardinals: $26.68MM
- New York Jets: $24.79MM
- Detroit Lions: $23.72MM
- Indianapolis Colts: $23.39MM
- Dallas Cowboys: $20.48MM
- Houston Texans: $16.81MM
- Green Bay Packers: $16.57MM
- Pittsburgh Steelers: $15.73MM
- Cincinnati Bengals: $14.92MM
- New Orleans Saints: $14.27MM
- New England Patriots: $14.12MM
- Miami Dolphins: $13.9MM
- Cleveland Browns: $13.86MM
- Philadelphia Eagles: $13.85MM
- Los Angeles Chargers: $12.61MM
- Jacksonville Jaguars: $12MM
- Washington Commanders: $11.57MM
- Baltimore Ravens: $11.54MM
- San Francisco 49ers: $10.72MM
- Atlanta Falcons: $10.7MM
- Denver Broncos: $10.13MM
- Minnesota Vikings: $9.75MM
- Tennessee Titans: $7.99MM
- Seattle Seahawks: $7.94MM
- New York Giants: $3.82MM
- Las Vegas Raiders: $3.37MM
- Los Angeles Rams: $1.49MM
- Buffalo Bills: $1.4MM
- Kansas City Chiefs: $653K
- Tampa Bay Buccaneers: $402K
The Dolphins gained the most from a post-June 1 cut (Byron Jones) this year, creating $13.6MM in cap space from a deal that will spread out the cornerback’s dead money through 2024. But the Browns (John Johnson, Jadeveon Clowney) and Cowboys (Ezekiel Elliott) created more than $10MM in space as well.
The Jets’ number is a bit deceiving. They are still working on a restructure with Aaron Rodgers, as the trade acquisition’s cap number — after a Packers restructure — sits at just $1.22MM. In 2024, that number skyrockets to $107.6MM. Rodgers’ cap hit will almost definitely will climb before Week 1, so viewing the Jets along with the other teams north of $20MM in space is not entirely accurate.
Minnesota is moving closer to separating from its $12.6MM-per-year Dalvin Cook contract. The team already created some space by trading Za’Darius Smith to the Browns. Cleveland, which is one of the teams connected to DeAndre Hopkins, added Smith and did so with help from its Deshaun Watson restructure. Watson was set to count $54.9MM against the Browns’ 2023 cap. That number is down to $19.1MM, though the Browns’ restructure both ballooned Watson’s mid-2020s cap figures to $63.9MM — which would shatter the NFL record — and added a 2027 void year.
Tampa Bay and Los Angeles sit atop the league in dead money, with the Bucs — largely from their April 2022 Tom Brady restructure — checking in at $75.3MM here. That total comprises nearly 33% of the Bucs’ 2023 cap sheet. The Rams, at more than $74MM, are not far behind. Despite the Bills and Chiefs — the teams most frequently tied to Hopkins — joining the Bucs and Rams near the bottom of the league in cap space, both AFC contenders also sit in the bottom five in dead money.
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