Four Receivers Who Could Be 2023 Cap Casualties
Analysis 2/23/23
Here are four NFL wide receivers who could, and likely will, become cap casualties in the coming weeks.
Michael Thomas, New Orleans Saints
Michael Thomas has been dealing with injuries the past three seasons, playing in just 10 out of a possible 50 games. The injuries came on the heels of signing a big extension in 2019. He led the league in receptions (149) and receiving yards (1,725) that season and was selected the AP Offensive Rookie of the Year.
In early January, he and the New Orleans Saints agreed to a restructured contract, which paved the way for them to move on from him this offseason, releasing him as a post-June 1 designation. That would save the Saints more than $13 million in dead-cap money.
So it's very likely he is going to become a free agent and look for a fresh start with a different organization, and hopefully he can stay healthier with his next team.
Robbie Anderson, Arizona Cardinals
Robbie Anderson had seven receptions and 76 yards in 10 games for the Arizona Cardinals. It just never worked out between Anderson and the Cardinals.
As soon as quarterback Kyler Murray got hurt, it became even worse. There's no role for him in Arizona.
The new regime of general manager Monti Ossenfort and coach Jonathan Gannon can move on from Anderson and save $12 million in cap space with no dead money. This move is almost a sure thing to happen in the coming weeks.
Kenny Golladay, New York Giants
Kenny Golladay signed for four years and $74 million from the New York Giants in 2021, and it's another deal that just never worked out. In two seasons in New York, Golladay had 43 receptions and 602 receiving yards total.
Golladay, who had 1,190 receiving yards and 11 touchdowns for the Detroit Lions in 2019, was the Giants' fourth or fifth receiver option under new coach Brian Daboll this past season. Despite starting just four games of the 12 he played in 2022, Golladay stayed involved and reportedly was a positive influence in the locker room. He caught his only touchdown with the Giants in Week 18 against the Philadelphia Eagles.
Expect general manager Joe Schoen to move on. If Golladay is released with a post-June 1 designation, his dead-money hit will be slightly less than $8 million and the Giants will save $13.5 million on the cap. Golladay will be a free agent for the second time in three years, but he probably will not get that type of a contract again.
>> READ: Giants Should Retain Both Daniel Jones, Saquon Barkley
Corey Davis, New York Jets
Another New York team, and another guy who signed a decent contract ($37.5 million for three years) in 2021.
Corey Davis was productive with the New York Jets here and there, but they have a young core coming on strong, led by Garrett Wilson, the reigning Offensive Rookie of the Year.
The Jets can move on from Davis and save about $10.5 million against the cap while absorbing less than $700,000 in dead money. Maybe they will use some of that money on a new quarterback. Regardless, Davis is more than likely done with the Jets.