Salary cap recap 09.23.18: Impact of moves involving Josh Gordon, Corey Coleman, Bennie Fowler and others

Measuring the moves the Patriots made the last couple of days and their impact on the salary cap.


1. Last Saturday, they promoted Cole Croston from the practice squad to the 53-man roster. His weekly salary increased from $7,600 to $32,647.06. His cap number is now $522,353.

2. To make room on the 53-man roster for Croston, the Patriots released Bennie Fowler III. Fowler made $41,0471 during his brief stay in New England. Since he qualifies for termination pay, his termination pay liability ($124,411) is now on the Patriots salary cap. Fowler has between the end of the regular season and February 1 to claim this termination pay benefit. If he does not file a claim, the Patriots will receive a credit on their 2019 cap.

3. Signed wide receiver Riley McCarron to the practice squad, and then placed him on injured reserve on Tuesday. The Patriots will be carrying his $121,600 salary on their cap.

4. On Monday, they traded for Josh Gordon. Gordon is signed through the 2018 season. His cap number is $697,060, or 15/17ths of $790,001. Gordon will be a restricted free agent after this season. An original round tender of about $2 million will obtain the Patriots a second-round pick if another team decides to sign Gordon to an offer sheet and the Patriots decide not to match.

5. The Patriots waived Corey Coleman to make room for Gordon. Coleman made $37,059 during his one-week stay on the Patriots roster.

6. Signed wide receiver Jace Billingsley to the practice squad. His cap number is $114,000, or 15/17ths of $129,200, the minimum salary for a practice squad player.

7. On Wednesday signed Cyrus Jones off the Ravens practice squad. His salaries are $814,246 this year ($718,452 prorated) and $996,369 in 2019.

8. Made room for Jones on the 53-man roster by releasing running back Kenjon Barner. Barner made $74,118 during his two-week stay on the Patriots roster. Like Fowler, Barner is eligible for termination pay. For the time being, I'm presuming his termination pay liability will be $148,234. Barner has between the end of the regular season and February 1 to claim this termination pay benefit. If he does not file a claim, the Patriots will receive a credit on their 2019 cap.

9. On Thursday signed Coleman to the practice squad. I'm presuming Coleman was signed for the minimum, making his cap number $114,000.

10. They made room for Coleman by releasing Kenneth Farrow from the practice squad. Farrow made $15,200 during his time on New England's practice squad.

11. Learned that Malcolm Mitchell filed a grievance. As of now,  his grievance amount of $252,000 is on the Patriots salary cap. The Boston Herald's Kevin Duffy tweeted on Friday the grievance had been settled. We should learn the amount of the settlement sometime next week.

The net effect of this week's moves is to lower the Patriots salary cap space number from $4,572,929 to $3,551,370.

Answering some logical follow-up questions:

Question: When can the players who have previously reached injury settlements re-sign with the Patriots?

Answer: Jordan Matthews - after Week 3. Please note that Matthews is currently on the Eagles roster.
Nate Theaker - after Week 4
Will Tye - after Week 7
Luke Bowanko - after Week 9

Question: Who are the current members of the Patriots practice squad?

Answer:

1. QB Danny Etling


2. OL James Ferentz


3. CB Jomal Wiltz


4. RB Ralph Webb


5. DL Trent Harris


6. DT Vincent Valentine


7. OL Eric Smith


8. TE Stephen Anderson


9. WR Jace Billingsley


10. WR Corey Coleman

1. Isaiah Wynn


2. Jeremy Hill - Eligible to be designated for return


3. Duke Dawson - Eligible to be designated for return


4. Ryan Izzo


5. Braxton Berrios


6. Christian Sam


7. Ulrick John