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Newly acquired Jerry Jeudy restructures contract to help Browns' cap space
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- Newly acquired Jerry Jeudy restructures contract to help Browns' cap space
The need for salary cap room was going to require the Browns to re-work some money on contracts. The obvious candidates were always viewed as the ones who were already on the roster.
However, even the newest Browns are involved as well. Wide receiver Jerry Jeudy had his contract restructured by the team to help create "north of $10 million" in cap space, a league source confirmed for the Beacon Journal.
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ESPN's Field Yates was the first to report.
Jeudy, who was acquired this week in a trade with the Denver Broncos , arrived with a $12.987 million salary for the upcoming season after the Broncos had picked up the fifth-year option on his rookie deal. However, the Browns are converting a portion of that into a bonus, much as they did with left tackle Jedrick Wills Jr. a week earlier.
According to Spotrac , the Browns converted Jeudy's base salary to just $1.125 million for this season. Meanwhile, they spread the $11.862 million restructure bonus into five separate $2,372,400 bonuses.
Denver Broncos wide receiver Jerry Jeudy (10) warms up before an Aug. 19, 2023, preseason game against the San Francisco 49ers in Santa Clara, California.
The restructuring makes Jeudy a $3,497,400 cap hit this season, the final one he's under contract with the Browns. The other $9,489,600 will count against the 2025 salary cap.
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The Browns have now restructured three contracts in the last three weeks. They did the same to cornerback Denzel Ward two weeks ago during the NFL combine, followed by last week's Wills restructuring.
There's been no indication the Browns have restructured quarterback Deshaun Watson 's cap hit of nearly $64 million. There also remains the question of running back Nick Chubb , who's on the final year of his extension and is currently a $15.825-million cap hit.
Chris Easterling can be reached at ceasterling@thebeaconjournal.com. Read more about the Browns at www.beaconjournal.com/sports/browns. Follow him on X at @ceasterlingABJ
This article originally appeared on Akron Beacon Journal: Jerry Jeudy restructures deal with Cleveland Browns
