Cornerback Stephon Gilmore got a fat check, and the New England Patriots received valuable cap space, according to a report by ESPN’s Field Yates.
The Patriots converted $8.5 million of Gilmore’s $9.5 million 2019 salary into a signing bonus, according to Yates. The move created $5.67 million in cap space.
The Patriots were up against the cap before reworking Gilmore’s deal, which could wind up keeping the cornerback around throughout his five-year contract, which runs out after the 2021 season. Gilmore was named a first-team All-Pro in 2018 and intercepted a pass in the Patriots’ Super Bowl LIII win over the Los Angeles Rams.
The Patriots now have over $8 million in cap space, according to the Boston Sports Journal. They’ll need some of that money to sign their 2019 NFL Draft class and to carry over into the 2019 season. They also must sign a kicker (Stephen Gostkowski?) and add help at wide receiver.
The Patriots can free up more cap space by extending quarterback Tom Brady’s contract.