Bears now have $5 million in salary cap spaceContinue reading.
Bears restructure Jay Cutler’s deal, free up more salary cap space
In a move to free up more salary cap space, the Bears have restructured quarterback Jay Cutler’s new seven-year deal.
According to a league source, the Bears converted $5 million of his $22.5 million base salary for 2014 into a signing bonus, which was prorated over the first five years of his seven-year contract.
The move frees up $4 million in cap space for the Bears for 2014 by lowering Cutler’s original cap hit of $22.5 million for 2014 to $18.5 million.
Cutler’s cap hits for 2015, 2016, 2017 and 2018 went up by $1 million each. They are now $16.5 million (2015), $17 million (2016), $16 million (2017) and $17 million (2018). His cap hits and cash values for 2019 and 2020 went unchanged.