|09-02-2013, 06:36 PM||#1|
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Join Date: Jul 2004
Redskins Restructure DT Barry Cofield's Contract
The Washington Redskins have agreed to a contract restructuring with defensive tackle Barry Cofield to save room on this seasonís salary cap, according to a person familiar with the situation.
The reworking of Cofieldís contract saves the Redskins about $2.4 million in salary cap space.
Cofield agreed to reduce his salary to the league minimum for a player of his experience level and converted the difference to bonus money that the team could prorate over the remainder of his contract for cap accounting purposes, the person with knowledge of the deal said.
Cofield was to have a salary of $4.05 million this season. Instead, his base salary is reduced to $840,000 and he receives $3.21 million in bonus money.
Source: Washington Post
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