The Packers Restructured Nijman To Gain Cap Space
The day before game one the Packers restructured Yosh Nijman's contract to gain $2.546M in additional cap space, per Field Yates. Nijman had been scheduled to earn $4.304M in 2023 as his base salary per his RFA tender. Instead of reducing his salary to his $1.08M minimum, for reasons unknown the Packers reduced his base to $1.125M, converting the balance of $3.179M to a signing bonus and adding four void years. His new 2023 cap number is $1.761M with $2.54M dead in 2024. If the Packers end up rolling the cap savings over (that is, not spending it in 2023), then the move is cap neutral.
Using numbers from Overthecap, the move increased the Packers cap space from $7.355M to $9.901M. Some cap expenses are likely. The Packers should keep a few million on hand in case of players going on IR in the future. If the Packers were to elevate one practice squad player per remaining game, that would cost around $500K. The team knows best what they should keep for paying incentives that might be earned this year, and other costs. It appears as though the Packers have perhaps $5M to $6M spend if they so desired. They could extend Rashan Gary as well.
So, why restructure Nijman? I confess that nothing brilliant sprang immediately to mind.
A) The team could believe that trading Nijman at a $1.125M cost to the acquiring team instead of $4.304M might induce a team to give up a better draft pick, perhaps a late third instead of a fourth. If Nijman really is the fourth offensive tackle on the depth chart, I suspect he might be very open to a trade.
B) They could be making space for an extension for one of their current players. Those might include one or more of Runyan, Nixon, Jordan Love, or Rashan Gary. Any extension for Nixon or Love would cost cap space in 2023 because their base salaries are at the minimum. It would be difficult to extend Runyan without increasing his cap number. Cap nerds expect the Packers to gain a few million if and when they extend Gary.
C) The Packers could be trying to sign or trade for a player from outside the organization. That could be a safety, an interior offensive lineman, or some other position. I am not a fan of this idea because I view 2023 as a year to evaluate and get the salary cap under control. Speculation about trading for Jonathan Taylor has come up. The Packers would not send significant draft picks to Indianapolis without having a long-term deal with Taylor in place. The move would help provide the space necessary. That said, Indianapolis appears to have two pretty good starting tackles both of whom are young, one who is still on a rookie contract with the other having been extended and under contract until 2026.
No doubt there are other possible reasons for the Packers to make this move.
Photo courtesy of Mark Hoffman, Milwaukee Journal Sentinel/USA Today
Comments (21)
EnemyTerritory
September 13, 2023 at 09:19 pm
How much is a one day contract for the former QB1 to retire as a GBP?
Thegreatreynoldo
September 14, 2023 at 10:46 am
It is free.
Cheezehead72
September 14, 2023 at 01:07 pm
For all I care he can retire as a Jet.
SicSemperTyrannis
September 13, 2023 at 11:11 pm
I don't like the idea of getting rid of Nijman at all. He's listed as second string LT. We're going to need somebody to relieve Bakh sometime. The player's association officially supports his position of all grass fields, this increases the likelihood of not playing him on artificial turf at all being a way to keep him happy and getting a hometown discount in return.
croatpackfan
September 14, 2023 at 04:06 am
We do not know how good is Caleb Jones, he looked above average on few snaps (team have luxury to see him in practice, we do not), so he might be the one to take over back up LT spot, instead of Nijman. Also, they added Michael Jordan (G/C) to the PS, so who knows what his value is?
greengold
September 14, 2023 at 06:41 am
Walker played well at LT. Maybe he’s the backup to Bak, and they could stick Jones at RT where he excelled? Tom to C?
A trade is likely in the works for either a C or a S. Great piece, TGR! You’ve covered the bases well here.
jannesbjornson
September 14, 2023 at 10:04 am
Walker is the third man on the depth chart.
Rarescope
September 14, 2023 at 08:53 am
Michael Jordan's skills as a basketball player and athletic shoe endorser are undeniable, but I just don't see him as a G/C. With his height and jump ball skills I think that TE would be a better position for him.
croatpackfan
September 14, 2023 at 10:45 am
Ha ha ha
dobber
September 14, 2023 at 09:52 am
The Packers have been stacking the deck for the post-Bakh future, at least it seems that way. I don't see him (Bakh) back in 2024. I don't think the hometown discount matters...and at his price, you don't want to pay a part-time player.
Thegreatreynoldo
September 14, 2023 at 11:25 am
Nijman is a handy guy to have on the team. On that, we agree. If he is your starter, the team will always be trying to find an upgrade. He is a low-end starter. Now, he is a low-end starter who isn't going to play in 2023 and thus has no way to increaser his value in 2023.
So, I have to look ahead to see what GB might pay Nijman to keep him (unless they are thinking solely about 2023 and not what's best for the team in 2024 and beyond, which is a bad thing for this reloading team). The dilemma is that he is worth less to the Packers than he is to other NFL teams.
If true, then Nijman is going to sign elsewhere after this season. GB might get a 6th round comp pick in 2025 if he walks in free agency. It looks like the cut off between 5th and 6th round comp picks is about $7M AAV (with it mostly being fully guaranteed) and $8M AAV Sebastian Joseph Day was paid. Day got 3 years, $24M with a whopping $16.5M fully guaranteed. And that was last year: they money will go up at least 10% for 2022. I don't think anyone is going to pay Nijman $8M AAV with 66.7% fully guaranteed after he sits on his ass for all of 2023.
If GB receives any offer for Nijman that is for a 4th or a 5th in 2024 rather than a 5th or 6th in 2025, we all should be thanking him for his very real services and wave goodbye to him.
croatpackfan
September 14, 2023 at 04:10 am
TGR, I agree with you that it is hard to predict why this restructure happen. I hope we all be happy at the end when we find out. There may be a lot of reason(s), but I do not think J. Taylor is the target. Behind A Jones and AJD, we have Patrick Taylor and Emanuel Wilson as back ups. I see no reason to add additional, possibly expensive RB to that room!
Leatherhead
September 14, 2023 at 06:57 am
I can't believe we're going to get rid of a competent offensive tackle with 16 games ahead of us.
As long as we're speculating, maybe they did this to free up a little cash whilst working up a long term deal for him.??
Nothing works on offense unless people get blocked, and Nijman can block people.
Rarescope
September 14, 2023 at 09:03 am
I've always believed that a strong Oline is the grease that lets everyone else do their job (see NY Jets, 2023 season for what happens with a weak Oline). Also, as someone always routing for the underdog I think Nijman has earned his place on this team and I would hate to see him traded. If GB was able to train him up to be a LT I wonder why they couldn't train him up to be a guard too.
PeteK
September 14, 2023 at 08:53 am
I would prefer that they hold on to the cap space and Nijman. As the season progresses and we're in striking distance of a playoff spot, go after a need. Good players will be available towards the trading deadline.
dobber
September 14, 2023 at 09:49 am
It is a head-scratcher to figure what they're planning here. Like you said, it might be a rollover thing, but they don't gain anything. It might be that they're wanting to extend someone that will cost a buck or two on 2023. Maybe they're trying to create flexibility if this team starts to make a run and they need help. Pushing more into 2024 and beyond...
" I am not a fan of this idea because I view 2023 as a year to evaluate and get the salary cap under control. "
If they've made their evaluations and are more bullish on what they have--except for an obvious hole--and they think they can make a savvy acquisition or two?
Thegreatreynoldo
September 14, 2023 at 10:44 am
I'd go with flexibility as the most likely reason. First, the amount of cap space the team can generate from Nijman goes down with every game that happens. So that might account for the timing.
[That's because they pay Nijman 1/18th of his salary for each game, leaving less base salary to convert to a signing bonus for prorations over 5 years. I remember writing at the beginning of last season that the Packers could do a max void year restructure on Lowry to gain over $3M in cap space, but by the time they did it halfway through the season they only were able to get $1.3M.]
If a player became available at the trade deadline, they might want the cap space in hand to pounce. If it were a safety or IOL or other position of need - or even not at a position of dire need - that makes sense as long as it isn't a one-year rental/aging player.
I see I had something of an incomplete thought in the article: I noted that Indy has two pretty good tackles (one drafted in 2018 that they just paid and other drafted in 2021 or 2022 who is still on a rookie contract) so I wouldn't expect Nijman to be an important part of any trade for Taylor. I suppose he still might get included but the more logical player would be Dillon, assuming Indy wanted him. I don't think GB is going to trade for J Taylor.
I know this is heresy around these parts, but I don't think Love played well enough to suddenly need or deserve an immediate contract extension. I don't think Runyan did either. I like Runyan but at this point I think he's another guy you like having on your team but as a starter, he is a guard that the team will always be trying to find an upgrade for. So, I don't think extensions for Runyan or Love are likely reasons. No extension for Dillon either.
As a final note, extending Gary is the only way I see to generate additional cap space through contract manipulation. That is, Gary is the only "Break Glass In Case Of Emergency" way to generate more cap space if it is needed. There are some players they could outright release, but they are core players, or Runyan. Releasing Runyan right now saves $2.6M and after game two it would save $2.4M, and so on. But they need Runyan at RG. Extending Gary should easily generate $2M and probably $3M in cap space.
Cheezehead72
September 14, 2023 at 01:13 pm
I agree it is probably to extend Gary. Yes they could also be looking to have money to extend Love late in the season.
Along with Gary extension it seems as they are freeing up money in the event they have to bring in another player. There is that possibility they might want to bring in a WR if they keep having injuries.
coolhand
September 14, 2023 at 10:56 am
I read a story that claimed Indy wanted Watson in the trade for Taylor. For me that's a non starter right there.
JDH1313
September 14, 2023 at 01:57 pm
I think they're preparing a trade at the deadline with DaJets or Packers East
4thand10
September 16, 2023 at 12:13 pm
So, why restructure Nijman? Because you don’t get rid of dudes that can play Tackle ,Gaurd and center better than 50% of NFL starters. Bak is gone next year. We’re fortunate to have Walker, Nijman and Jenkins who ALL can play LT pretty well. A total luxury.