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How much cap space do Patriots have after releasing Stefon Diggs?
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- How much cap space do Patriots have after releasing Stefon Diggs?
Things change fast in the NFL.
Look no further than Wednesday evening when the news broke that the Patriots were going to release Stefon Diggs by next week. This roster move has a lot of ramifications for Mike Vrabel’s team.
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For the third-straight offseason, it means that the Patriots will search for a No. 1 receiver. After failing to land several ( Calvin Ridley , Brandon Aiyuk , and Chris Godwin ), the team signed Diggs last season. He produced, giving them the team’s first 1,000-yard season since 2019.
This move also means the Patriots will enter free agency next week with even more cap space. By releasing Diggs, the team frees up around $16.8 million off its cap. They’ll have around $55 million in cap space. According to Overthecap.com, that’s the seventh most in the NFL.
Originally, the team was going to have around $40 million in cap space. By releasing Diggs, it frees up more money and creates more possibilities for the Patriots.
At the NFL Combine last week, sources told MassLive that the Patriots were targeting veteran edge rushers in free agency. Although the team liked players such as Trey Hendrickson and Jaelan Phillips , sources indicated those players were expected to command more than the Patriots were willing to spend.
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The big question now is whether releasing Diggs changes their free agent plans. This move could open the door for the Patriots to land one of the best edge rushers.
They could also look to sign the best available receiver, Alec Pierce .
It’s rare to see a young, 1,000-yard receiver hit the open market. Pierce, 25, is coming off the first 1,000-yard season of his career. He’s also led the NFL in yards per reception in the past two seasons. Pierce is viewed as a fit with the Patriots and Drake Maye , who’s one of the league’s best deep ball throwers.
Pierce will command a hefty price tag, but with new money cleared, the Patriots could certainly afford the wide receiver.
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If the Patriots want to, they can add another big contract with a trade. The top two names on the market are edge rusher Maxx Crosby and receiver A.J. Brown . Both players would command a hefty trade package and bring a big contract.
Crosby is a five-time Pro Bowler and would give the Patriots a devastating pass rush. The 28-year-old has a base salary of $30 million this season. Brown, 28, is a three-time Pro Bowler and would give the Patriots a No. 1 receiver. He has a guaranteed salary of $29 million next season.
Diggs was a good player for the Patriots last season. However, he was due to account for $26.5 million on the cap and turn 33 years old next fall.
The Patriots didn’t think the receiver was worth the money. Now, they’ll have more cap space to play with and try to find players who they believe are worth the price tag.
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Free agency starts on Monday with the league’s legal tampering period.
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