How can the Falcons maximize their cap space this offseason?
Now that the Atlanta Falcons have completed their coaching search and hired the majority of their staff, they can focus on assembling the roster for 2024. Fortunately for head coach Raheem Morris, he’s inheriting a talented roster with a considerably better salary cap situation than the one Arthur Smith inherited in 2021.
The Falcons currently have $25,849,508 in available cap space for 2024, which ranks 14th in the league. In terms of effective cap space (cap total accounting for the team’s top 51 players and upcoming draft class), Atlanta has a little over $20 million.
With the NFL’s 2024 cap ceiling set at $242 million, here’s a breakdown of the different ways that the Falcons could create more cap space for the upcoming season.
Restructures
POS | Player | 2024 Cap Hit | Cap Savings |
LT | Jake Matthews | $21,773,713 | $9,526,667 |
RG | Chris Lindstrom | $18,000,000 | $9,100,000 |
S | Jessie Bates | $17,500,000 | $7,916,667 |
DT | Grady Jarrett | $20,375,000 | $7,520,000 |
RT | Kaleb McGary | $12,500,000 | $4,687,500 |
Restructures are an easy way to create cap space in the short term, but if you overdo it, they can have long-term ramifications on your salary cap. Still, this is a good option for Atlanta now that they’ve stabilized their cap situation.
Extensions
POS | Player | 2024 Cap Hit | Cap Savings |
DT | Grady Jarret | $20,375,000 | $12,032,000 |
LT | Jake Matthews | $15,500,000 | $11,432,000 |
S | Jessie Bates | $17,500,000 | $9,500,000 |
RG | Chris Lindstrom | $18,000,000 | $9,100,000 |
CB | AJ Terrell | $12,344,000 | $8,975,200 |
Extensions are the best way to create cap space as they benefit both the team and the player. Someone like A.J. Terrell could be a perfect extension candidate since he’s a good player and is just entering his prime.
Cuts (pre-June 1)
Pre-June 1 cut numbers | ||||
POS | Player | 2024 Cap Hit | Cap Savings | Dead Cap |
DT | Grady Jarrett | $20,375,000 | $12,125,000 | $8,250,000 |
QB | Taylor Heinicke | $8,960,000 | $2,000,000 | $6,960,000 |
TE | Jonnu Smith | $9,000,000 | $6,500,000 | $2,500,000 |
ED | Lorenzo Carter | $4,750,000 | $3,750,000 | $1,000,000 |
CB | Mike Hughes | $3,845,000 | $3,095,000 | $750,000 |
Pre-June 1 cuts are more costly because they incur more dead cap down the line. For example, if for some reason the team decided to cut Grady Jarrett, it would cost an additional $8.2 million in dead cap prior to June 1.
Cuts (post-June 1)
Post-June 1 cut numbers | ||||
POS | Player | 2024 Cap Hit | Cap Savings | Dead Cap |
DT | Grady Jarrett | $20,375,000 | $16,250,000 | $4,125,000 |
QB | Taylor Heinicke | $8,960,000 | $6,960,000 | $2,000,000 |
TE | Jonnu Smith | $9,000,000 | $6,500,000 | $2,500,000 |
RT | Kaleb McGary | $12,500,000 | $5,000,000 | $7,500,000 |
LB | Kaden Elliss | $8,500,000 | $4,250,000 | $4,250,000 |
This is the ideal time to cut players as it minimizes their dad cap totals. For example, cutting Taylor Heinicke would save the team nearly $5 million more if it were done after the June 1 deadline.
Trades (pre-June 1)
Pre-June 1 trade numbers | ||||
POS | Player | 2024 Cap Hit | Cap Savings | Dead Cap |
DT | Grady Jarrett | $20,375,000 | $12,125,000 | $8,250,000 |
CB | AJ Terrell | $12,344,000 | $12,344,000 | $0 |
QB | Taylor Heinicke | $8,960,000 | $6,960,000 | $2,000,000 |
TE | Jonnu Smith | $9,000,000 | $6,500,000 | $2,500,000 |
TE | Kyle Pitts | $10,471,522 | $5,147,796 | $5,323,726 |
Trades (post-June 1)
Post-June 1st trade options | ||||
POS | Player | 2024 Cap Hit | Cap Savings | Dead Cap |
DT | Grady Jarrett | $20,375,000 | $16,250,000 | $4,125,000 |
LT | Jake Matthews | $21,773,713 | $15,500,000 | $6,273,713 |
S | Jessie Bates | $17,500,000 | $13,000,000 | $4,500,000 |
RG | Chris Lindstrom | $18,000,000 | $12,500,000 | $5,500,000 |
CB | AJ Terrell | $12,344,000 | $12,344,000 | $0 |
