Jalen Ramsey Contract Restructure: Rams Retain Star Cornerback
Overview
The Los Angeles Rams have agreed to a contract restructure with star cornerback Jalen Ramsey, ensuring his continued presence on the team.
The new deal reportedly saves the Rams $5.2 million in cap space for 2023, while giving Ramsey a raise in future seasons.
Details of the Restructure
The Rams converted $10.6 million of Ramsey's base salary for 2023 into a signing bonus, spread over the remaining three years of his contract.
This move creates cap space for the Rams in the short term, while increasing Ramsey's cash flow in the long term.
Ramsey's cap hit for 2023 drops from $21.2 million to $16 million, providing the Rams with much-needed flexibility.
Implications for the Rams
The Rams are in a tight salary cap situation, with several key players set to become free agents in 2024.
The Ramsey restructure gives them some breathing room to address these needs, while also keeping their star cornerback on the roster.
By spreading the cap hit over three years, the Rams can maintain financial stability while still securing Ramsey's services.
Benefits for Ramsey
Ramsey benefits financially from the restructure, as his cash flow will increase in future seasons.
The signing bonus provides him with a large sum of money upfront, which he can use for investments or other purposes.
By converting base salary into a signing bonus, Ramsey also reduces his taxable income in future years.
Conclusion
The Rams' contract restructure with Jalen Ramsey is a win-win situation for both parties.
The Rams save cap space in the short term, while Ramsey secures a pay raise in the long term.
With Ramsey locked up for the foreseeable future, the Rams remain one of the top contenders in the NFL.
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