The Raiders rapid restructuring of contracts over the past few weeks has them edging closer and closer to being in compliance with the 2012 NFL salary cap. But they’re not there yet.
Over the weekend the NFL announced it’s official 2012 salary cap figure: $120.6 million. After re-doing the deals for multiple key players the Raiders now find themselves exceeding the cap by just a shade over $1 million after carrying a total salary figure of over $142 in dedicated salary juts two weeks earlier.
Among the key players who have had deals restructured have bee quarterback Carson Palmer ($9.3 million), defensive tackle Richard Seymour ($5.9 million), and free safety Michael Huff ($5.8 million). The Raiders have also cut cornerback Chris Johnson and safety Hiram Eugene, wich has shed an additional $5.7 million. It should also be noted that the current estimated allocation of salary does include the franchise designation put on Tyvon Branch.
If there is another big restructuring or cut coming, it could come in the form of linebacker Kamerion Wimbley. Wimbley has a 2012 cap figure of $11.8 million and it has long been speculated that the axe may be dropping on his contract in order to push Oakland under the cap.
Should the Raiders decided to make a move on Wimbley, it ought to come soon. The deadline for cap compliance is Tuesday at 1pm eastern.