Salary cap recap 03.18.18: Patriots end day with $12,233,288 in cap space

Here's a quick recap of the Patriots' transactions from Sunday and their impact on their salary cap.



1) The Patriots traded a 2018 fifth-round pick to the Raiders for Cordarralle Patterson and a 2018 sixth-round pick. (Check out Christopher Price's analysis here.) Patterson is signed through the 2018 season. There is no guaranteed money left on his deal -- he has a $3 million salary and a $250,000 offseason workout bonus. When it comes to incentives, Patterson gets $350,000 for 55 percent playing time, another $350,000 or 70 percent playing time, $350,000 for 55 receptions, and another $350,000 for 70 total receptions. There’s also a $350,000 incentive for making it to the Pro Bowl. Please note the Patriots and Patterson can agree to lower his 2018 cap number of $3.25 million. This move took up $2,695,000 in cap space, as Patterson's $3,250,000 cap number displaced Eric Lee's $555,000 salary from the Top 51 list.

2) Patrick Chung extended his deal. While I expect the extension will lower his 2018 cap number of $3.8 million, please note we're still waiting for the official numbers. I need more details before updating my salary cap space number, like his salary, length of his extension, signing bonus amount, offseason workout bonus amount (if any), roster bonus amount (if any) and LTBE incentive amount (if any).

3) Please note we are still waiting for the official numbers for Jeremy Hill and his deal. The Boston Globe's Jim McBride reported that deal was for one-year. The Boston Globe's Ben Volin tweeted Hill got a "1-year, $1.5m deal with $150k guaranteed (his signing bonus). Has a $1m base salary, a $50k workout bonus and $300k in per-game roster bonuses ($18,750) per game active. Will have a salary cap number of $1.33m." Because Hill was active for only seven games in 2017, his $18,750 46-man active roster bonuses are considered LTBE (Likely To Be Earned) for seven games. This move took up $776,250 in cap space, as Hill's $1,331,250 cap number displaced James Ferentz's $630,000 salary from the Top 51 list.

4) Please note that we are still waiting for the official numbers for Matt Tobin. ESPN's Mike Reiss reported the deal was for one year. My guess is that since no numbers were announced, Tobin's 2018 cap number will be in the range of $900,000 to $1,400,000 if he did not sign a minimum salary benefit deal -- that would make his 2018 cap number $720,000. Like Chung I need more details besides the length of his contract before updating my salary cap space number.

5) Please also note we are still waiting for the official numbers for Adrian Clayborn. ESPN's Adam Schefter reported that it was a two-year deal. My guess is since this report contained the words "with a max value of $12.5 million," the deal contains incentives. Like the others, I need more details besides the length of his contract before updating my salary cap space number.

Answering some logical follow-up questions:

Question: What happens if Hill is active for more than seven games this season?

Answer: The following Tuesday or Wednesday, the Patriots will lose $18,750 in cap space, as his cap number will increase by that amount. NLTBE (Not Likely To Be Earned) 46-man active roster bonuses are the only incentives that count against the current year's cap after being earned. Therefore, the Patriots will need to hold in reserve $168,750 just in case he is active for all sixteen games.

Question: What will be the dead money amount if Hill is released during the roster cutdowns?

Answer: $200,000 ($150,000 signing bonus plus the $50,000 offseason workout bonus)

Question: What 2018 draft picks do the Patriots now have?

Answer:

1. 1st round (No. 31): their original assigned pick


2. 2nd round (No. 43): From the 49ers as part of the Jimmy Garoppolo trade


3. 2nd round (No. 63): their original assigned pick


4. 3rd round (No. 95): their original assigned pick


5. 4th round (No. 136): Compensatory pick for Jabaal Sheard


6. 6th round (TBD): From the Raiders as part of the Patterson trade


7. 7th round (No. 219): From the Browns as part of the Jason McCourty trade

1. Stephon Gilmore


2. Devin McCourty


3. Dont'a Hightower


4. Brandin Cooks


5. Cordarrelle Patterson


6. Shea McClellin


7. Adrian Clayborn


8. Malcom Brown


9. Danny Shelton


10. Phillip Dorsett


11. Kenny Britt

1. Cooks


2. Julian Edelman


3. Chris Hogan


4. Dorsett


5. Britt


6. Malcolm Mitchell


7. Cody Hollister


8. Riley McCarron

1. 1st round: their original assigned pick


2. 2nd round: their original assigned pick


3. 4th round: their original assigned pick


4. 5th round: their original assigned pick


5. 7th round: their original assigned pick