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According to "two NFL sources," Larry Fitzgerald has agreed only to a "simple restructuring," and not a pay cut.
According to reporter Kent Somers, the Cardinals are converting the vast majority of Fitzgerald's $12.75 million salary into a bonus that can be prorated over the final five years of his contract. It's unclear if his salary has dropped all the way to the minimum $955,000. Either way, it's a huge win for the 30-year-old receiver, who isn't losing a dime of salary. Per Somers, the maneuver created "around $10 million" of cap space. It frees up a ton of cash for a team that had less than $2 million to spend, but is also simply pushing the momentous bill further down the road. Fitz's cap number will likely be north of $23 million in 2015.
Source: Kent Somers on Twitter
According to reporter Kent Somers, the Cardinals are converting the vast majority of Fitzgerald's $12.75 million salary into a bonus that can be prorated over the final five years of his contract. It's unclear if his salary has dropped all the way to the minimum $955,000. Either way, it's a huge win for the 30-year-old receiver, who isn't losing a dime of salary. Per Somers, the maneuver created "around $10 million" of cap space. It frees up a ton of cash for a team that had less than $2 million to spend, but is also simply pushing the momentous bill further down the road. Fitz's cap number will likely be north of $23 million in 2015.
Source: Kent Somers on Twitter
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