Another New England Patriot is restructuring his contract
Per ESPN insider Field Yates, cornerback Stephon Gilmore converted a portion of his salary to a bonus putting more than $5 million towards the cap.
Source: the Patriots converted $8.5M of CB Stephon Gilmore's contract into a signing bonus, creating $5.67M in cap space for 2019. Some flexibility for the champs.
— Field Yates (@FieldYates) March 22, 2019
It gives the reigning Super Bowl champions salary cap relief in 2018 and 2019. But in 2020, things get dicey with a potential out in Gilmore’s contract at a whopping $15,341,668 of dead cap and a huge $18,670,833 cap hit. A hit increase of over 50 percent in 2019 at $9,170,833.
Gilmore has been a great fit for the Patriots when he came over from the Buffalo Bills in 2017. Often considered among the top tier cornerbacks this past season, Gilmore earned First-Team All-Pro honors which is the first team he has received this accolade.
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