CLEVELAND — The Browns made another huge bookkeeping move Monday, restructuring Myles Garrett’s blockbuster contract to clear more cap space.
In doing so, they cleared $12.868 million, and now top the NFL with more than $35.5 million in salary cap room. The move was first reported by Field Yates of ESPN. The Browns also converted some of Garrett’s future base salaries to option bonuses to help keep the cap in check.
A source said Garrett’s restructuring — and that of left guard Joel Bitonio last week — are for cap management purposes and not because they have a big acquisition planned. On Saturday, the Browns converted $9.8 million of Bitonio’s $11 million salary to a bonus to clear $7.868 million. They also converted his 2024 and 2025 salaries into option bonuses to reduce the cap charges of $19.6 million and $18.6 million, respectively.
The moves give the Browns all the money they need to extend some of their current players, and to keep their options open through the trade deadline Oct. 31 at 4 p.m. It also helps keep them in good fiscal shape in the coming years, during which they have base salaries of $46 million for Deshaun Watson in 2024, 2025 and 2026.
A four-time Pro Bowler, Garrett signed a five-year extension worth $125 million in July of 2020, including a $21 million signing bonus and $100 million guaranteed.
His 2023 base salary before this move was $17.25 million, and his cap charge was $29.176 million. A large chunk of his future base salaries were converted to option bonuses. He was due to make $20.203 million in 2024, $14.796 million in 2025, and $20 million in 2026.
With many of their top players in double-digit millions, the Browns will now have plenty of cap space to add talent and bolster the roster.
Bitonio, a two-time first team All-Pro, signed a three-year, $48 million extension in November of 2021.
The Browns are currently in their championship window, with most of their star players in the prime of their careers.
In March, they restructured Watson’s contract for the second straight year, converting $44.92 million to a bonus and reducing his base to $1.08 million. The move cleared $36 million in space and helped enable the Browns to sign free agents such as Za’Darius Smith, Ogbo Okoronkwo and Juan Thornhill.
