How Cardinals Gained Significant Cap Space Today

The Arizona Cardinals gained just over $4 million in cap space today - here's how.

There hasn't been much positive news surrounding the Arizona Cardinals as of late, but perhaps that's a product of the team's decision to tear the roster down and rebuild from square one. 

With that comes plenty of notable names departing and a likely disaster 2023 season on the horizon, though 2024 looks more promising by the day. Aside from the assumed full health of Kyler Murray and two likely high draft picks in the first round of next year's draft, cap space should also be a great tool for the Cardinals. 

After June 1, Arizona was one of six teams to create significant cap space thanks to Post June 1 designations:

1. Miami Dolphins: $13.6 Million (Byron Jones release)

2. Dallas Cowboys $10.9 Million (Ezekiel Elliot release)

3. Cleveland Browns $10.9 Million (John Johnson/Jadeveon Clowney release)

4. Washington Commanders $8.37 Million (Chase Roullier release)

5. Arizona Cardinals $4.21 Million (J.J. Watt/Rodney Hudson release)

6. Denver Broncos $3.75 Million (Brandon McManus release)

The Cardinals used their Post June 1 designations on both players who are set to hit retirement. NFL salary cap wizard Jason Fitzgerald offered this on Arizona's moves and dug into the details:

"The Arizona Cardinals strategy the last few years was to acquire some great players who were past their prime, basically a strategy out of the Jets 'very successful' 1993-1994 playbook. Watt would play in 23 games in two years while Hudson played in 16 games," Fitzgerald wrote. 

"Both players signed revised contracts with the Arizona to allow them to use the June 1 designation to help with the salary cap situation so the relief here is minimal. Watt’s cap number will drop from $3.565 million to $2.4 million, a savings of just $1.165 million. Hudson’s cap figure will drop from $4.81 million to $1.76 million, a savings of $3.05 million. 

"Hudson will almost surely receive an injury payment of $2.05 million which will knock the teams salary cap savings down by another $1.23 million but for the time being I don’t believe that counts on the cap. Watt will have a $4.8 million cap charge in 2024 while Hudson will have a $3.52 million cap charge. Watt and Hudson are both retired."

As it stands, the Cardinals currently have $26.67 million in cap space according to OverTheCap, trailing just the Chicago Bears ($32.5 million) and Carolina Panthers ($27.2 million). 

For 2024, the Cardinals are set to have $51.1 million in cap space with 44 players under contract - and yes, that does include Kyler Murray's $51.85 million cap figure. 

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