Source: Vikings convert Cousins bonus, clear $16M off cap
FILE -Minnesota Vikings quarterback Kirk Cousins (8) looks to pass during the first half of an NFL wild-card football game against the New York Giants, Sunday, Jan. 15, 2023, in Minneapolis. The Vikings reached an agreement with quarterback Kirk Cousins on Tuesday, March 14, to change bonus language in his existing contract that cleared $16 million from their salary cap for 2023, according to a person with knowledge of the negotiation.(AP Photo/Abbie Parr, File)
MINNEAPOLIS (AP) — A source within the NFL tells Hubbard Affiliate KSTP Sports, the Vikings and quarterback Kirk Cousins have agreed to restructure his contract.
According to the source, the restructuring of Cousins’ contract saves the team $16 million against this year’s salary cap.
Cousins will enter his sixth season with the Vikings, currently without a commitment from the club beyond that. His base salary this year is $10 million. His cap charge will now be $20.25 million, including the prorations from two different bonuses.
He had a $20 million roster bonus due next week, but this conversion and the accompanying addition of two more void years allowed the Vikings to spread that money evenly on their cap at $4 million annually over five years. The extension Cousins got a year ago came with a $25 million signing bonus and two void years to spread that money evenly at $6.25 million from 2022-25.
So while Cousins now has four automatically voidable years after this on his deal, those are merely accounting mechanisms. He remains on an expiring contract, set to hit the market in 2024, unless the two sides strike an extension sometime in the coming year.
The team has until Wednesday afternoon to be compliant with the salary cap.
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