Bucs cornerback Carlton Davis III is entering the final year of a three-year, $44.5 million contract he signed in 2022. He is owed $14 million in base salary along with up to $500 thousand in per game roster bonuses for the 2024 season. But all of that money is not guaranteed.
The team could decide to cut Davis and save $6,300,941 in salary cap this offseason if they decide the team is better off without him.
That option is on the table as Davis missed five games and battled through injuries during several others while having perhaps his worst season since entering the NFL in 2018.
Carlton Davis III’s 58.2 overall grade from Pro Football Focus was the lowest of his career, and he allowed a career high in catch rate allowed (64.6%) and yards per reception (15.2). Add onto that his five touchdowns surrendered against just two interceptions and seven pass breakups and it paints the picture of a physical cornerback whose physicality may be taking a toll on his body and play.
Bucs Could Trade Carlton Davis III Rather Than Cut Him
Cornerback is one of the most difficult and high-variance position in the NFL. Every team is looking for more corners as it is a position that also has a high attrition rate. While Carlton Davis III’s current cap hit for 2023 with the Bucs looks high at $20,370,275, a team that opts to trade for him would only be picking up a $14,352,941 cap hit. And they could always restructure that number down to less than $2 million this year.
When you consider the lack of long-term investment and the relatively low price-tag associated with Davis, it becomes much more appealing for another team to consider trading for him. This is especially prudent when you consider there isn’t a very good crop of free agent cornerbacks who will be available this offseason.
And the precedent for what the trade compensation would be was set just last year.
Just before the 2023 trade deadline the Packers sent cornerback Rasul Douglas to the Buffalo Bills in exchange for a 2024 third-round pick. At the time the Bills were getting Douglas for one and a half years, as Douglas was under contract for the 2024 season as well. His cap hit to Buffalo for the remainder of the 2023 season was just $864,706 plus the $9,973,529 2024 salary cap hit.
This is all based off of a three-year, $21 million contract he signed with the Packers the same offseason Davis signed his deal with the Bucs. This valued Douglas at roughly half of Davis’ rate when they signed and they are probably valued similarly at this point, with Douglas being seen as a quality No. 2 and Davis as a high-end No. 2 or low-end No. 1 cornerback. Considering the acquiring team would be paying Davis about double what Douglas is making in Buffalo the compensation should be about the same.
If the Bucs want to part with the oft-injured cornerback and add some draft capital, Carlton Davis III is the most likely trade candidate the team has. And Tampa Bay can expect to hear offers that would include low-third or high-fourth round compensation packages. This would also allow Tampa Bay the opportunity to carve out a definitive role for third-year corner Zyon McCollum, who filled in admirably throughout the season when Davis and fellow starter Jamel Dean were out with injuries.
While a trade would create another hole on the roster, as the team is razor thin at the position past McCollum, this year’s draft is fairly deep at the position, especially in the middle rounds. The Bucs could create playing time opportunities for McCollum and restock the cupboard with younger, cheaper talent while improving their salary cap position to take care of internal pending free agents like Pro Bowl wide receiver Mike Evans, Pro Bowl quarterback Baker Mayfield and All-Pro safety Antoine Winfield Jr.
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