Browns restructure WR Jerry Jeudy’s contract to free up $10 million in cap space

It’s the same type of restructure that Jedrick Wills got last week.

According to ESPN’s Field Yates, the Cleveland Browns have cleared over $10 million in cap space for the 2024 season by restructuring the contract of newly-acquired wide receiver Jerry Jeudy.

Previously, Jeudy was set to earn $12.987 million in guaranteed money this year, based on the 5th year option that he was originally offered by the Broncos.

We don’t have the full details of the restructure yet, but typically, GM Andrew Berry works things out by converting most of that guaranteed money into a signing bonus, which is then spread out over four or five void years. That pushes the cap hit to the 2025 season, gives him a small base salary for 2024, and gives the team more flexibility in the short term. Berry did an identical restructure with LT Jedrick Wills last week, who was also playing on a 5th year option.

Fans are still waiting to see if more restructured contracts are coming on the likes of QB Deshaun Watson, RB Nick Chubb, and WR Amari Cooper.