Salary cap recap 03.19.18: Patriots end day with $13,953,238 in cap space

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



1) Released Shea McClellin with a failed physical designation. The Patriots are no longer on the hook for his $2.15 million salary and his $200,000 offseason workout bonus. The $833,334 signing bonus proration of his 2016 $2.5 million will remain on the Patriots salary cap as dead money. This move increased the Patriots salary cap space by $1,635,000 in cap space, as James Ferentz's $630,000 salary replaced McClellin's $2,350,000 cash on the Top 51 list. What is the significance of the failed physical designation? It may mean that McClellin may qualify for injury protection.

Quoting the CBA: "Beginning in the 2016 League Year, any type of Injury Protection liability shall be included in Team Salary for the League Year for which such Injury Protection applies, or the League Year in which such Injury Protection is paid, agreed to be paid by settlement, or awarded, whichever is later." Injury Protection was a benefit for the 2011/2012/2013/2014 and 2015 seasons. McClellin may qualify for Injury Protection since he was released with the failed physical designation. If McClellin applies and gets approved to get the Injury Protection benefit, he will receive an amount equal to 50 percent of his Paragraph 5 Salary for the 2018 season ($2.15 million) or $1.075 million. If approved, he will begin to be paid on Week 1. To learn more about Injury Protection, review the CBA's Article 45.

2) We learned all of the details of the Cordarralle Patterson trade. (Check out Christopher Price's analysis here.) The Patriots traded their fifth-round pick (No. 159 overall) for Patterson and one of the Raiders' six sixth-round picks (No. 210).

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

4) Please note 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: When will you know for sure if McClellin will be paid for the injury protection benefit?

Answer: Sometime between Week 1 and Week 2.

Question: How much dead money do the Patriots now have?

Answer: [table id=45 /]

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 (No. 210): 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. Patterson


6. Clayborn


7. Malcom Brown


8. Danny Shelton


9. Phillip Dorsett


10. Kenny Britt

1. Hightower


2. Kyle Van Noy


3. Elandon Roberts

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