The Seattle Seahawks’ Offseason Challenges: Addressing Secondary Concerns began with significant worries surrounding the team’s performance in the secondary. The most pressing issue for the Seahawks revolved around the expensive contracts of their safeties. In response to these challenges, General Manager John Schneider acted swiftly, making the decision to part ways with both Quandre Diggs and Jamal Adams before the onset of free agency. This strategic move was essential to create the necessary flexibility within the salary cap and to open up opportunities for fresh talent to join the roster.

Seahawks Secure Cornerback Mike Jackson with Tender Offer as free agency commenced, the Seahawks took proactive measures by extending a right of first refusal tender to cornerback Mike Jackson. The organization revealed that he signed the tender on April 8, which showcased their commitment to retaining his services. However, following the selection of two cornerbacks in the 2024 NFL Draft, it seems that Jackson has agreed to a pay cut, reflecting a willingness to adjust his contract in favor of team dynamics and overall salary cap health.

Jackson’s New Contract: A Financial Overview for the 2024 Season reveals that Jackson now has a base salary of $1,055,000, along with a signing bonus of $167,500. This new agreement results in a cap hit of $1,222,500 for the upcoming 2024 season. This restructuring not only benefits Jackson by ensuring his spot on the roster but also provides the Seahawks with much-needed financial flexibility going forward.

Understanding the Implications of Jackson’s Signing Bonus in Relation to the CBA may raise questions for some readers regarding the $167,500 signing bonus. While it represents the maximum allowed under a veteran minimum salary benefit agreement, Jackson’s contract does not qualify for the cap relief associated with such agreements. According to Article 27 of the collective bargaining agreement, a player must have four or more credited seasons to be eligible for veteran minimum treatment. Since Jackson has only three credited seasons, he does not meet this requirement, affecting his contract’s impact on the salary cap.

Cap Space Analysis: How Jackson’s Restructure Benefits the Seahawks indicates that the restructuring of Jackson’s contract has successfully created $1,893,500 in cap space for the 2024 season. Following the signing of rookie Byron Murphy, the Seahawks now possess approximately $2,151,870 in available cap space, as reported by the NFLPA Public Salary Cap Report. This financial maneuvering is crucial for the Seahawks as they look to build a competitive roster while navigating the complexities of the salary cap.