The New England Patriots have created some much-needed financial flexibility as they head into the season’s unofficial ‘second-half.’
New England has reportedly restructured the contract of special teamer Cody Davis to create $258,824 in additional room under their cap. They also freed up $123,200 in cap space by releasing veteran wide receiver Lil’Jordan Humphrey from their practice squad on Tuesday.
Per Patriots salary cap expert Miguel Benzan, the team now has $2,050,692 in available salary cap space with which to operate for the remainder of 2022.
Davis’ restructuring essentially removed the remaining 11 active roster bonuses in his deal, which he was unable to earn while on season-ending injured reserve. The 33-year-old suffered a non-contact knee injury while covering a kickoff return during New England’s 38-15 win over the Cleveland Browns in Week 6.
According to Benzan, the Patriots moved the 2023 credit for Davis’ unearned, likely-to-be-earned (LTBE) active roster bonuses into 2022 to ensure they had enough cap space for the rest of the year. With 11 Patriots able to earn $1,832,795 in not-likely-to-be earned (NLTBE) active roster bonuses before the end of the season, the restructuring of Davis’ contract provides the Pats enough cap space to account for all of them.
Davis, a nine-year NFL veteran, joined the NFL in 2013 as an undrafted free agent out of Texas Tech. Following stops with the Los Angeles Rams and Jacksonville Jaguars, he joined the Patriots as a free agent prior to the 2020 season. He led the team with 15 special teams tackles in 2021.
Prior to his injury, Davis had played in six games with the Pats in 2022, earning six special teams tackles on 106 snaps. Despite being officially listed as a safety, he was one of the team’s most valuable special teamers; second only to team captain Matthew Slater. In addition to his coverage duties, he also served as New England’s personal punt protector. In Davis’ absence, the role has been given to safety Adrian Phillips.
Despite the restructure, Davis is set to enter unrestricted free agency in 2023.
Humphrey initially signed a one-year deal with the Patriots in June. Despite a strong showing during training camp, he was waived during final roster cutdowns, and subsequently signed to New England’s practice squad the next day. The ex-Texas Longhorn was promoted to the active roster on September 13. He was released by the team on Oct. 11, but re-signed with the Pats practice squad on Oct. 15.
In six games with the Patriots, Humphrey caught two passes for 20 yards, while seeing the field for 34 percent of New England’s offensive plays.
The Pats hope to improve upon their 5-4 record as they welcome the New York Jets (6-3) to Gillette Stadium on Sunday, Nov. 20 for a 1 p.m. ET kickoff.
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