The start of the 2021 league year is just over three days away. The Chicago Bears knew they had some moves to make if they were going to get back under the salary cap. Current estimates are they sat around $19.364 million over the limit following the franchise tagging of Allen Robinson and extension of kicker Cairo Santos. If they didn’t make the necessary moves to get out of the red, they could incur serious fines and loss of draft picks.
Unsurprisingly, GM Ryan Pace was on top of matters. Adam Schefter revealed on Saturday that the team had officially restructured the contracts of three key players. Khalil Mack, Eddie Jackson, and Cody Whitehair. All had their 2021 base salaries converted into signing bonuses. This will give the team an additional $23 million in space. More than enough to get that back under the cap.
So that part of the agenda is finished.
Bears will be saving just over $23 million of salary-cap space this week by converting the 2021 base salaries of LB Khalil Mack, S Eddie Jackson and OL Cody Whitehair into signing bonuses, per sources. The moves will give the Bears more firepower heading into free-agent week.
— Adam Schefter (@AdamSchefter) March 13, 2021
Bears should be about $4 million under after those restructured deals
— Jason_OTC (@Jason_OTC) March 13, 2021
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Rest assured though, Pace is likely just getting started. If the Bears are going to make any significant moves this offseason, they will need a lot more space to work with. Especially if they wish to make that big splash at quarterback everybody keeps talking about. This doesn’t include trying to retain other free agents and perhaps signing more next week.
The question is what can they do? Anybody who follows the business side of the NFL knows there are several ways one can massage the cap. The New Orleans Saints have done it for years. Pace came from that same school of thinking so he knows all the tricks. It comes down to which ones he’ll use on certain players.
Separating Chicago Bears moves by category
Cuts
These are players the Bears either don’t have a use for any longer or can’t afford to keep. They already started last week with the release of Buster Skrine and Bobby Massie has since joined him. Other names who should be watched carefully include Jimmy Graham ($7 million), Charles Leno ($6.2 million), Anthony Miller ($1.21 million), and Javon Wims ($920,000). Leno would be a rather bold choice considering Massie was already cut and it would put the Bears down both starting tackles. Yet with a fairly strong free agent market and even stronger draft class? It is worth keeping in mind.
Extensions
One way teams like to clear immediate cap space is by offering limited extensions to veteran players. It allows them to add more guaranteed money and use the added room to lower the hit. The Chicago Bears don’t have a lot of candidates who seem like strong choices for this. Kyle Fuller is the most logical. He’s still 29-years old and continues to be a steady, reliable presence at cornerback. His $20 million cap hit this year though is far too high. Giving him a two-year extension would enable Pace to cut that in half.
Obviously, the other name to watch is Allen Robinson. His franchise tag number carries $17.98 million on the cap. Being able to finally reach an extension agreement would allow the Bears to knock that number down significantly.
Trades
Usually, players who are on the older side and cost a lot of money don’t command much on the trade market. Yet the Bears are in a spot where they may have to take what they can get. Akiem Hicks fits this category. He’ll be 32 this year. While still an effective defensive lineman, his $12 million cap hit is proving a problem for them. Extending players his age is not always the best idea. So the other option is trading him to another team. Most likely for a mid-round pick. Chicago would net $10.5 million in space with such a move.
Looking at that landscape? They still have plenty of ways they can create enough space to conduct the business needed to modify the roster. It comes down to which direction they choose to go.
