Here’s how much dead cap space DeVante Parker release will cost Patriots originally appeared on NBC Sports Boston
The New England Patriots are parting ways with wide receiver DeVante Parker less than a year after giving him a three-year contract extension.
The Patriots have notified Parker they will release him Wednesday when the new league year begins, per ESPN’s Adam Schefter, allowing him to hit the NFL free agent market.
Patriots informed WR DeVante Parker that they are releasing him Wednesday and he now has been given permission to talk to other teams, per his agent Jimmy Gould.
— Adam Schefter (@AdamSchefter) March 11, 2024
The Patriots will get hit with a dead cap charge of around $6.3 million by releasing Parker.
The Patriots will be releasing WR DeVante Parker. The move will result in $6,323,334 in dead money and $143,332 in cap savings, per Over The Cap.
— Jeff Howe (@jeffphowe) March 11, 2024
It’s never ideal to have cap space taken up by a player no longer on your team, but this was a good move by the Patriots. Parker wasn’t a productive player for them, and now they can give another player his snaps and role next season.
The Patriots acquired Parker and a 2022 fifth-round pick from the Miami Dolphins in April of 2022 for a 2023 third-round pick. They signed him to a three-year extension in June of 2023. In two seasons with the Patriots, the veteran wideout tallied 64 receptions for 933 yards and three touchdowns in 26 games (13 in both 2022 and 2023).
New England re-signed wideout Kendrick Bourne to a three-year, $19.5 million deal over the weekend. The Patriots reportedly are expected to make a push for Calvin Ridley, who is the best wide receiver available in free agency.
The team’s wide receiver depth chart currently consists of Bourne, JuJu Smith-Schuster, DeMario Douglas, Tyquan Thornton and Kayshon Boutte.
Source link : https://sports.yahoo.com/heres-much-dead-cap-space-200402136.html
Author : NBC Sports Boston
Publish date : 2024-03-11 20:23:11
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