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theramswire.usatoday.com] Salary cap update after Rams' initial wave of moves
Cameron DaSilva
March 14, 2023 1:52 pm PT
The NFL requires all teams to be under the salary cap when the new league year begins, which is March 15 at 4 p.m. ET this year. The Los Angeles Rams were more than $14 million over the limit a few weeks ago, but they’ve made the necessary moves to get under the cap ahead of Wednesday’s deadline.
They agreed to trade Jalen Ramsey to the Dolphins, cut Leonard Floyd, restructured Joe Noteboom’s contract and split with Bobby Wagner. The Ramsey and Wagner moves haven’t yet been made official, but they will go through on Wednesday.
Over The Cap is keeping track of every team’s moves and cap situation, updating the Rams’ financial standing with every transaction. Accounting for the Ramsey trade, Floyd release and Noteboom restructure, Over The Cap has the Rams with $6.27 million in cap space.
When Wagner is released, assuming he’ll be a standard cut and not a post-June 1 release, the Rams will save another $5 million, giving them more than $11 million in free space. If he’s a post-June 1 cut, the Rams will get $8 million in savings, but they won’t see that money until June.
The Ramsey trade saved $5.6 million in cap space, the Floyd cut saved $3 million and Noteboom’s restructure saved $9 million, so that’s where the additional money has come from.
