Tyler Lockett takes pay cut to stay with Seahawks
Tyler Lockett takes pay cut to stay with Seahawks
As we expected, Tyler Lockett needed to re do his contract to stay with Seahawks 3/9/2024
On Friday, I predicted that the Seahawks were waiting on Tyler Lockett to decide if he would accept a pay cut to remain with the team in 2024. There was no other reporting that Lockett’s contract could be renegotiated, although some speculated if he would be a cap casualty. On Saturday, it was announced that Tyler Lockett is taking a 2024 pay cut.
Lockett was set to carry a base salary of $15.3 million with $1.7 million in incentives for the 2024 season. Per NFL Network’s Mike Garafolo, Lockett agreed to reduce his compensation to $13 million that is now fully-guaranteed, which I also predicted if the deal was re-done.
The Seahawks should save considerable cap room with this move. Jason Fitzgerald of OverTheCap predicted a new cap number of $13.75 million. That would be $14 million less than his original cap number.
With Dee Eskridge being renegotiated on Saturday and now Lockett, the only remaining cap number that I predicted would change is that of Nick Bellore.
The Seahawks should now have more than $50 million in cap space before re-signing or adding any free agents.
He said he wanted to stay when season ended. He’s got a wife, a budding real estate career and might want to stay where he’s put down roots over the stress of starting over with a new team, city and future. I expect he is within a year or two of retiring.
I have to admit I'm a bit confused by the numbers. Can anyone explain it as if to a 5 year old how a 2024 pay cut of up to $4 million ($15.3 million old base + $1.7 million incentives minus $13 million new base) is a $14 million reduction on the salary cap this season?