The Jaguars had about $2 million in salary cap room today, following the weekend re-structuring of tight end Kyle Brady's contract.
Brady added three years to his current contract and had $1.8 million of his $2.45 million salary this year converted to bonus money that will be amortized evenly over five years. The new deal is basically a voidable contract similar to those that permitted Kevin Hardy and Renaldo Wynn to leave in free agency this year.
The Jaguars added years to Brady's contract for the sole purpose of creating immediate salary cap room. The new deal will void following the 2003 season, which was scheduled to be the final year of Brady's previous contract.
Brady will be a $2.876 million hit on this year's salary cap, down from the previously scheduled $4.316 million hit. He would be a $5.176 million hit in '03, which would leave $1.08 million of remaining amortization that might become "dead money" on the Jaguars' '04 salary cap.
With the additional salary cap room, the Jaguars are expected to announce new free-agent signings this week.
