General manager Howie Roseman is at it again. NFL Insider Field Yates reported that Roseman and the Eagles restructured the contract for cornerback Darius Slay. The new contract converted $14.88 million of his original $16 million base salary, creating $11.9 million in cap space.
Slay’s base salary for 2022 is now $1.12 million, the minimum for players with seven or more years in the league.
His cap hit is now $10.131 million, down from $22.035 million. It consists of his base salary, $3.25 million of his signing bonus pro-rated over four years, a $500,000 work bonus, and a $5.261 million restructure bonus.
Slay, who was the Eagles’ highest-paid player, now falls to No. 4 after the restructure.
The Eagles acquired Slay in a trade from the Detroit Lions in 2020 in exchange for a third and fifth-round selection in the NFL Draft. This past season, he was one of Philadelphia’s top players. In Week 10, he recovered a fumble for an 82-yard touchdown. The following week, he had an interception returned for a touchdown. His 116 fumble return yards was the sixth-most in a single season in NFL history. His three total defensive touchdowns were also the second-most in franchise history.
At the conclusion of the season, Slay was selected to his fourth-career Pro Bowl; his first as a Philadelphia Eagle.
The 31-year-old is signed through 2023. If the Eagles release him after the 2022 season, they will take on $21.265 million in dead money. Hopefully, Slay continues to be on the upswing.
After Slay’s restructure, the Eagles now have approximately $27.1 million available in cap space.