The Philadelphia Eagles are not in the most enviable situation as it relates to the salary cap this offseason. According to Over the Cap's figures, they'll need to slash just over $43 million to comply with this year's diminished cap that will reportedly be around $180 million. Philly is only sitting above the New Orleans Saints in terms of cap issues, making it no small task to cut costs. So, to get to a number that is copacetic with the cap, they'll need to get creative.
In what will be one of the first of many steps to begin getting their books in order, the club has come to terms with corner Darius Slay on a restructured contract, according to Ian Rapoport of the NFL Network. Slay was acquired by the Eagles last March in a trade with the Detroit Lions. Following that deal, the two sides came to an agreement on a three-year contract worth $50 million and included $30 million guaranteed. That contract was set to kick in this year with Slay owning a $15.7 million cap charge. Under this restructuring, Philadelphia clears $9.14 million in cap space, per Rapoport.
The three-time Pro Bowl corner suited up in 15 games (14 starts) during his first season with the Eagles. Over that stretch, Slay totaled 59 tackles, defended six passes and hauled in one interception. When targeted this past year, quarterbacks totaled a 111.9 passer rating against Slay, which was much higher than his final two seasons in Detroit.
While this restructuring helps in Philadelphia's path towards being cap compliant, they do still have some ways to go. Two names to watch as they continue to get that cap number down are tight end Zach Ertz and wide receiver Marquise Goodwin. If the Eagles were to move Ertz -- who has been the subject of trade rumors -- this offseason, they could be looking at possibly clearing around $5 million in space. Meanwhile, Goodwin has no dead cap charges on his deal for 2021 and the team could clear $4.5 million if they released him. These moves alone won't solve Philly's cap dilemma, but -- in a similar fashion to Slay's restructuring -- could be a step in continuing to help as they move forward through the offseason.