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Cleveland Browns free up cap space after restructuring QB Deshaun Watson's contract

The Cleveland Browns now have the largest cap space in the NFL, with over $62 million.

Credit: AP

Cleveland Browns quarterback Deshaun Watson (4) participates in a drill during training camp on Thursday, July 25, 2024. (AP Photo/Sue Ogrocki)

CLEVELAND — The Cleveland Browns have restructured quarterback Deshaun Watson's contract, a league source told Mary Kay Cabot of Cleveland.com, a media partner of 3News.

According to Cabot, the Browns converted $44.79 million of Watson's salary into a signing bonus and lowered his base salary to $1.21 million, clearing $35.832 million in cap space.

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Now, the Cleveland Browns have the largest cap space in the NFL, with over $62 million.

Watson is entering the third year of his $230 million contract, which he obtained in a blockbuster trade with the Houston Texans ahead of the 2022-23 NFL season.

#Browns have restructured Deshaun Watson’s contract for the third straight year, converting $44.79M to a bonus and clearing $35.832M in cap space. They now have $62M in cap space, most in the #NFL. @FieldYates first
— Mary Kay Cabot (@MaryKayCabot) August 29, 2024

Since coming to Cleveland, Watson has only played 12 games, throwing for 2,217 yards and 14 touchdowns.

The Clemson product was sidelined following a comeback win over the Ravens in Week 10 of the 2023 NFL season. The 28-year-old underwent season-ending shoulder surgery after sustaining a hit that caused a fracture in his shoulder.

The Cleveland Browns kick off the 2024 NFL Season on Sunday, Sept. 8, against the Dallas Cowboys. The game will begin at 4:25 p.m. at Cleveland Browns Stadium.

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