MARCH 10: Albert Breer of Sports Illustrated confirms the Chargers have had “exploratory trade talks” concerning not only Bosa and Mack, but also both members of the Allen-Williams receiver tandem. Of those, Breer unsurprisingly notes Allen is the likeliest to stay, something which matches the veteran’s comments on his future. Still, a cost-shedding move of some kind could be coming soon on Los Angeles’ part.
MARCH 9: According to OverTheCap.com, the Chargers have the second-least amount of cap space in the NFL with only the Dolphins exceeding the salary cap by more than Los Angeles. They’re currently $21.14MM over the salary cap and are set to eat $27.31MM of dead money in 2024, also second-most in the NFL.
As a result, it appears the Chargers are exploring options to clear some cap space while potentially bringing in a bit of draft capital, as well. Dianna Russini of The Athletic reports that the team is currently “open to trade offers for many veteran players including Joey Bosa and Khalil Mack.”
Mack and Bosa currently make up the team’s largest two cap hits at $38.52MM and $36.61MM, respectively. Trading those two players alone, the team would be able to clear out $23.25MM (Mack) and $14.39MM (Bosa) of cap savings, though the team would be eating $15.27MM (Mack) and $22.22MM (Bosa) of dead money in the deals. The report from Russini also says “many veteran players,” though, and the next three biggest cap hits on the roster are veteran receivers Keenan Allen ($34.72MM) and Mike Williams ($32.46MM) and safety Derwin James ($19.86MM).
Would the Chargers really get rid of quarterback Justin Herbert‘s top two targets? Allen has been one of the league’s more consistent producers since 2017, as long as he stays on the field. Over that time, Allen has averaged around 75 yards per game and can usually deliver six to eight touchdowns. He’s missed 40 of a possible 179 career games, including 11 in the past two seasons, but despite four missed games in 2023, Allen averaged a career-high 95.6 yards per game and scored seven touchdowns at 31 years old.
Williams has also missed his fair share of games (27 of a possible 115), including 14 games missed with a torn ACL in 2023. When healthy, Williams has established himself as a strong WR2, twice surpassing 1,000 receiving yards and twice surpassing nine receiving touchdowns. Williams struggles to provide the same consistency as Allen but is still a strong contributor. If traded, Allen would provide $23.1MM of cap savings and result in $11.62MM of dead money, while a trade of Williams could provide $20MM of cap savings and result in $12.46MM of dead money.
James is yet another high-cost player who has struggled to stay on the field in his career. After appearing in every game as a rookie, James has missed 33 of a possible 83 games since. Despite leading the team in tackles this year, James had the worst NFL season of his career, according to Pro Football Focus (subscription required), grading out as the 71st best safety out of 95 graded players. Before this season, James hadn’t graded out worse than 12th. He showed decent pass rush and run defense in 2023, but graded out poorly in coverage. A James-trade would need to be a post-June 1 transaction. If traded pre-June 1, James would still cost the Chargers $1.46MM of cap space, while a post-June 1 designation would save the team $12.75MM of cap space.
Those players are all question marks, but Mack and Bosa have been blatantly named. Bosa started his career as one of the league’s most electric pass rushers with 23.0 sacks in his first two years, despite missing four games his rookie year. While he still threatens to put up double-digit sacks each year, he has to stay on the field in order to do so, and he has missed half the season three times in his career, including the most recent two seasons. If his physical shows the potential for a full return to form, he could fetch a high price in trade talks.
Los Angeles will try to sell high on Mack, who had a career year at 32 years old. Mack was a world-beater early in his career, racking up 40.5 sacks and a Defensive Player of the Year award with the Raiders. Though his production dipped a bit after getting traded to Chicago, Mack still made three straight Pro Bowls and two All-Pro teams as a Bear. Mack was traded once again to the Chargers in 2022, and after a decent first season in LA, Mack delivered a career-high 17.0 sacks in 2023, his first time delivering double-digit sacks since his first year in Chicago in 2018.
It’s unclear just how much Los Angeles is willing to part with this spring. Clearly, “many veteran players” have been advertised as available, including Mack and Bosa, but it’s hard to say just how many of those high-cap players will be shipped out. There are other ways to try and lower the players’ cap impacts, like restructures to current deals, but the easiest way may be to clear them off your books (for the most part) and get something in return. It will be interesting to see how much the Chargers are willing to give up in order to rebuild around Herbert.