Analyzing Contracts Cut In 2024

Now that the fifth day of the new league year has passed, when many contract triggers have been decided, this is a good time to take a look at what veteran contracts were terminated in preparation for and during the beginning of free agency–and see what trends can be identified.

The list

Here are all the players cut that resulted in salary due in 2024 that was shed by their former teams:

#NamePos.Former Team2024 Cash Saved
Jimmy GaroppoloQBRaiders$24,250,000
87David BakhtiariTPackers$21,500,000
13Mike WilliamsWRChargers$20,000,000
48Shaquil BarrettEDGEBuccaneers$17,000,000
Jamal AdamsSSeahawks$16,500,000
D.J. HumphriesTCardinals$16,000,000
7Emmanuel OgbahEDGEDolphins$15,800,000
66Justin SimmonsSBroncos$14,500,000
J.C. JacksonCBPatriots$14,375,000
35Eddie JacksonSBears$14,150,000
82Kevin ByardSEagles$14,100,000
99Laken TomlinsonGJets$13,000,000
76Arik ArmsteadIDL49ers$12,860,000
Charles Leno Jr.TCommanders$12,000,000
19Marquez Valdes-ScantlingWRChiefs$12,000,000
Darious WilliamsCBJaguars$12,000,000
26Aaron JonesRBPackers$12,000,000
12Hunter RenfrowWRRaiders$11,882,000
72Jerome BakerLBDolphins$11,133,000
77Quandre DiggsSSeahawks$11,000,000
49De’Vondre CampbellLBPackers$10,750,000
43Tre’Davious WhiteCBBills$10,400,000
90Cody WhitehairGBears$10,250,000
22Allen RobinsonWRSteelers$10,000,000
Michael GallupWRCowboys$9,500,000
83Rayshawn JenkinsSJaguars$9,000,000
Chukwuma OkoraforTSteelers$8,750,000
79Mitch MorseCBills$8,500,000
33Tracy WalkerSLions$8,000,000
25Folorunso FatukasiIDLJaguars$8,000,000
23C.J. UzomahTEJets$8,000,000
46Marcus MayeSSaints$7,500,000
29Avonte MaddoxCBEagles$7,500,000
45Brian AllenCRams$7,000,000
47Will DisslyTESeahawks$7,000,000
Patrick PetersonCBSteelers$6,850,000
60Logan ThomasTECommanders$6,565,000
57Jonnu SmithTEFalcons$6,500,000
91Eric KendricksLBChargers$6,500,000
Andre DillardTTitans$6,500,000
Mitchell TrubiskyQBSteelers$6,000,000
Bradley BozemanCPanthers$6,000,000
20Bryan MoneIDLSeahawks$5,900,000
71Mark GlowinskiGGiants$5,700,000
86Jordan PoyerSBills$5,500,000
4Tyus BowserEDGERavens$5,500,000
17Nyheim HinesRBBills$5,000,000
54Mason ColeCSteelers$4,750,000
10Deonte HartyWRBills$4,110,000
21Dean LowryIDLVikings$4,000,000
Isaiah OliverCB49ers$3,500,000
Alexander MattisonRBVikings$3,350,000
Nick ScottSBengals$3,300,000
Keion CrossenCBDolphins$3,245,000
Adrian PhillipsSPatriots$3,000,000
Lawrence GuyIDLPatriots$3,000,000
Vonn BellSPanthers$3,000,000
Siran NealCBBills$2,880,000
Nick BelloreLBSeahawks$2,850,000
Chris ManhertzTEBroncos$2,650,000
Leighton Vander EschLBCowboys$2,500,000
Brian HoyerQBRaiders$2,332,500
Jerry TilleryIDLRaiders$2,300,000
Hayden HurstTEPanthers$2,250,000
Keanu NealSSteelers$2,250,000
Chris BoardLBPatriots$1,960,000
DeVante ParkerWRPatriots$1,800,000
Nick GatesCCommanders$1,800,000

The number on the left column is the rank that player had on OTC’s 2024 top 100 possible cut candidates. Overall, that experiment went well: of the 50 players cut where they were due at least $4 million in salary for 2024 (the lower bound on the list), 38 of them were on the top 100 list, making up 76% of those cuts. In addition, six other players (Joey Bosa, Tim Patrick, John Cominsky, Donte Jackson, Tyler Lockett, and Shaq Thompson) also suffered negative contract fate by taking pay cuts in order to stay on their teams. That means the list identified 44 players that teams deemed were slated to be paid more in 2024 than they were willing to pay. With a few more tweaks, I hope to work further on exploring contract fate more, and attempting to increase the number of players that are accurate identified as possible cut candidates.

2024 Cash Saved By Team and Position

Team2024 Cash Saved
Packers$44,250,000
Seahawks$43,250,000
Raiders$40,764,500
Steelers$38,600,000
Bills$36,390,000
Dolphins$30,178,000
Jaguars$29,000,000
Chargers$26,500,000
Bears$24,400,000
Patriots$24,135,000
Eagles$21,600,000
Jets$21,000,000
Commanders$20,365,000
Broncos$17,150,000
Buccaneers$17,000,000
49ers$16,360,000
Cardinals$16,000,000
Cowboys$12,000,000
Chiefs$12,000,000
Panthers$11,250,000
Lions$8,000,000
Saints$7,500,000
Vikings$7,350,000
Rams$7,000,000
Falcons$6,500,000
Titans$6,500,000
Giants$5,700,000
Ravens$5,500,000
Bengals$3,300,000
Texans$0
Colts$0
Browns$0
Position2024 Cash SavedProportion To
2023 Cash Spent
S$111,800,00022.8%
WR$69,292,0008.7%
T$64,750,0008.4%
CB$60,750,0009.5%
EDGE$38,300,0004.3%
IDL$36,060,0004.2%
LB$35,693,0007.2%
TE$32,965,0008.5%
QB$32,582,5003.6%
G$28,950,0007.1%
C$28,050,00012.9%
RB$20,350,0006.7%

The team column to the left mostly speaks for itself as to which teams felt they had more 2024 salary that they needed to shed. Collectively, 29 teams shed $559,542,500 in 2024 salary–yes, that’s over half a billion dollars.

But it’s the position breakdown that fascinates me much more–particularly the very high number at safety. I can’t recall the last time that one position suffered this many high level cuts (13) at such a high number and high proportion to last season’s spending. This may have caused a chain reaction in which we saw some safeties unexpectedly cut, as more teams were market correcting.

Wide receiver and cornerback also suffered high amounts that were cut. This may suggest the “speed” positions at wide receiver and at defensive back saw many players that teams felt lost a step in speed and otherwise.

On the other hand, it’s no surprise that quarterback saw the least proportion of 2024 cash shed, with edge rushers and interior defensive linemen right behind as high valued positions. It was a bit surprising to see the running back amounts to be quite low–perhaps this comes a season or so after market corrections happened there that may be impacting safety right now. It will be good to discover in the future what trends end up changing.