Per the Review-Journal's Michael Gehlken, the team would like to convert the $3 million of non-guaranteed money in Penn's 2018 salary into bonuses or incentives.
Penn, who has yet to practice since suffering a Lisfranc fracture in Week 15 last season, signed a two-year, $18.7 million extension last September after holding out for almost all of training camp. The deal guaranteed half of Penn's $6 million base salary in 2018 -- meaning Oakland would take a $3 million dead-money hit by releasing him this year -- with an additional $1.5 million to be made in per-game roster bonuses. Penn could also make up to $10.35 million in 2019, but none of that is guaranteed.
The 35-year-old remains on the physically unable to perform list after having surgery to repair the Lisfranc fracture in his right foot, an injury that often lingers and remains painful after rehab. His absence in Weeks 16 and 17 marked the first time Penn has ever missed a regular-season game in 11 NFL seasons (174 games, 170 starts).
Penn earned his second consecutive Pro Bowl nod last year. He has allowed 5.0 sacks and committed 15 penalties over the last two seasons, per STATS LLC.
Rookie Kolton Miller, who the Raiders took 15th overall out of UCLA in April, has spent the entire offseason at left tackle in Penn's absence, though he could move to the right side if Penn returns to full health.
The team also drafted tackle Brandon Parker out of North Carolina A&T with the first pick in the third round, after bringing in veteran right tackle Breno Giacomini in free agency. David Sharpe, a 2017 fourth-round pick, has also earned reps on the right side.
--Field Level Media