The Seattle Seahawks entered the offseason in a bit of a tough spot, financially speaking, and signing Geno Smith to that big contract didn’t do a lot to help.
That’s why they had to reach an agreement with star wide receiver Tyler Lockett, as they need to restructure several contacts in order to sign their recently-drafted players.
Per Field Yates of ESPN, they converted $8.535 million of his salary for the upcoming season into a signing bonus, effectively spreading the cap hit over the next couple of years.
A non-schedule note: the Seahawks have restructured the contract of WR Tyler Lockett, converting $8.535M of his base salary into a signing bonus, creating $5.69M in cap space, per source.
— Field Yates (@FieldYates) May 11, 2023
Notably, this move will create north of $5.6 million in cap space for the Seahawks.
Lockett’s contract runs through the 2025 campaign, and he’s expected to make a base salary of $15.3 million in every single one of the remaining campaigns.
Lockett has been a mainstay and one of the most proficient contributors to the Seahawks’ passing game for years now.
He’s coming off posting his fourth consecutive season with at least 1,000 receiving yards, and the addition of first-round pick Jaxon Smith-Njigba could help him and DK Metcalf get even some more wide-open looks.
Lockett is an explosive player and a great speedster, making him a perennial big-play threat.
Moreover, the Seahawks might still need to work their books to make the numbers work before the start of the season, much like many other teams around the NFL.
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