Patriots Restructure Deatrich Wise's Contract, Create Cap Space For DeVante Parker
BOSTON (CBS) -- When the Patriots acquired DeVante Parker from the Miami Dolphins, they had to create some space to fit the receiver under the salary cap. A restructuring of Deatrich Wise's contract did the trick.
According to ESPN's Field Yates, the Patriots created $1.9 million in cap space by converting some of Wise's salary into a signing bonus.
The Patriots converted $2.85M of DE Deatrich Wise's base salary into a signing bonus, creating $1.9M in salary cap space per source.
— Field Yates (@FieldYates) April 6, 2022
A move made to accommodate the trade of WR Devante Parker.
According to Over The Cap, the Patriots have the second-lowest amount of cap space and the third-lowest amount of effective cap space. That limitation has certainly impacted their ability to sign free agents, but moves like the Wise restructure work to show that some maneuvering can be done to clear some space when needed.
Parker is signed for the next two years, carrying a cap hit of $6.0625 million in 2022 and $6.3 million in 2023.
Wise is the lone member of the Patriots' 2017 draft class remaining on the roster, as he enters his sixth year in New England. He's played in 78 of a possible 81 games in his career, registering 17 sacks and 172 total tackles.