| Texans CB Jonathan Joseph Reworked His Deal To Help Get Matt Schaub's Extension Done | | |
The Houston Texans had the second-lowest amount of salary cap room remaining on that Sept. 7 list, but were able to sign Matt Schaub to a four-year, $62 million contract (and sign Tim Jamison to a two-year extension) over the weekend after creating space by restructuring the contract of cornerback Johnathan Joseph.
Signed to a five-year, $48.75 million contract after the 2011 lockout, Joseph was scheduled to earn $7.25 million in base salary this season, $5.5 million of which was fully guaranteed. As initially reported by John McClain of the Houston Chronicle, on the eve of the season-opener, the Texans and Joseph agreed to convert $5 million of Joseph's base salary into a signing bonus that will be prorated ($1.25 million per year) over the next four seasons. The restructure lowered Joseph's base salary to $2.25 million ($500,000 was fully guaranteed upon the restructure, but as a vested veteran, the entire amount is now fully guaranteed) and his 2012 cap number decreased from $9.75 million to $6 million, a savings of $3.75 million this season.
The flipside of the restructure is that Joseph's cap numbers in 2013-15 has increased by $1.25 million, with his cap hits going from $10 million to $11.25 million in both 2013 and 2014 and reaching $12.25 million in 2015.
Source: Yahoo! Sports
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