Browns restructure Deshaun Watson's contract, add nearly $36M in cap space

Aug. 29 (UPI) -- The Cleveland Browns restructured quarterback Deshaun Watson's contract, creating nearly $36 million in salary cap space, a league source told UPI on Thursday.

By converting $44.79 million of Watson's $46 million base salary into a signing bonus, the Browns pushed their 2024 salary cap space total to $62 million, the most in the NFL.

Watson signed a five-year, $230 million contract with the Browns in 2022. All of that money was guaranteed. The Browns have restructured that deal each of the last three years.

Watson completed 61.4% of his throws for 1,115 yards, seven scores and four interceptions last season. He was limited to just six starts because of a shoulder injury. He also made just six starts in 2022 after being suspended for the first 11 games of the season.

Watson is under contract for the next three seasons. His contract includes salary cap hits of $72.9 million in 2025 and 2026. The dead salary cap hit -- money the Browns would be charged if Watson wasn't on the roster -- for those years would be $172.7 million and $99.8 million, respectively.

The Browns will host the Dallas Cowboys in their regular-season opener on Sept. 8 in Cleveland.