As Jarran Reed posts an online goodbye, cap-saving Seahawks to re-sign Carlos Dunlap
From endangered, to exiting.
Since the day last year Jarran Reed signed a $23 million contract to stay with the Seahawks, the defensive tackle had an endangered salary-cap charge for this year, the second one of his non-guaranteed deal.
Reed’s cap number for 2021 is scheduled to be $13,975,000. Only Russell Wilson ($32 million), Bobby Wagner ($17.15 million) and Tyler Lockett ($14.95 million) have higher ones. And unlike Wilson and Wagner, Reed doesn’t have years after this one remaining on his contract. That meant Seattle could not renegotiate his $8,325,000 base pay for this year into bonus money spread for accounting purposes over 2022 and ‘23, as the team (still) can with Wilson’s and Wagner’s salaries.
The Seahawks need Chris Carson’s $14.6 million, two-year deal, including $5.5 million guaranteed for 2021, to fit under the salary cap. Carson has yet to sign the contract. When he does, Seattle must slide under the cap that day.
The team wanted Reed to convert salary to bonus money all in this year, to create a more team-friendly cap number. Reed wanted a new contract beyond 2021 in exchange for giving the Seahawks a salary-cap break this year.
That impasse resulted in Reed posted this on Twitter Thursday: “It’s been real 12s tomorrow at 1 it’s official ... on to the next chapter”
That strongly suggests the Seahawks are going to release him on Friday’s official NFL transactions; those post each day at 1 p.m. Pacific Time.
It would be the second top-paid defensive lineman Seattle has released this month. The team cut two-time Pro Bowl end Carlos Dunlap to save $14 million just before the start of free agency. That was so the Seahawks could sign tight end Gerald Everett (one year, $6 million), cornerback Akhello Witherspoon (one year, $4 million) and re-sign center Ethan Pocic (one year, $3 million) and, Wednesday, defensive ends Benson Mayowa (two years, $8.8 million) and Kerry Hyder (two years, $6.5 million)
Seattle entered Thursday $6 million over the league’s cap limit of $182.5 million for 2021, per overthecap.com. That estimate includes the $9.6 million cap charge the Seahawks assumed by trading for Raiders guard Gabe Jackson, a deal that Seattle announced as official.
Seattle would eat $5 million—the prorated half of the signing bonus Reed got on his two-year deal signed in March 2020—in so-called “dead money” this year by releasing him now. But they would save his remaining scheduled cap charge, $8,975,000.
The Seahawks would love to trade Reed before Friday afternoon, so they could get something such as a draft pick (Seattle has just three choices next month) in addition to the cap savings for Reed. But a trade would require another team to assume Reed’s remaining cap charge of $8,975,000.
It’s possible Reed could return to the team, for a cost of less than that against this year’s cap. But it’s fair to wonder if the impasse that resulted in Reed announcing his exit from Seattle Thursday means he won’t be as amenable as Carson to coming back.
This parting leaves a hole in the middle of the Seahawks’ defensive line that already needs edge pass rushers after the release of Dunlap.
But the Seahawks addressed one of those needs later Thursday. They agreed with Dunlap on a two-year, $16.6 million contract with $8.5 million guaranteed, according to agent Drew Rosenhaus and ESPN.
This story was originally published March 25, 2021 at 6:36 PM.
