PHILADELPHIA — Fletcher Cox’s brief, bizarre stint on the market has come to an end.
The Eagles announced Saturday morning they’ve agreed to a one-year contract with the veteran defensive tackle, roughly a day and a half after they released Cox in a surprisingly unceremonious fashion.
The two sides tried to agree on a renegotiation before Thursday’s release, but couldn’t find common ground before Cox was due $18 million for next season. There was reportedly momentum for Cox, 31, to return even once he was cut.
It’s rare to see a team sign a player a few days after jettisoning them, and it’s not totally clear how much the Eagles gained by doing so. Cox’s new salary is expected to have a max worth of around $14 million, which is less than he was owed on the previous deal and an Eagles source said the release would save the team about $2 million in cap space after Cox’s release.
There’s also a possibility the team added void years to the deal Cox just signed, which would lower Cox’s cap hit for this season.
In exchange for lowering Cox’s salary and shortening his deal, though, the Eagles will take on a substantial hit in dead money next season. According to overthecap.com, he’ll count for just over $15 million in 2023 because the team released him with a post-June 1 designation.
Cox has regressed the last few seasons, but is still typically regarded as an impact player who demands attention from opposing offenses. Javon Hargrave benefited from the double teams Cox typically drew early last season and had a career year, but Cox’s production dipped even as teams shifted to double-teaming Hargrave.
He has had just 3.5 sacks in two of the last three years and voiced his frustrations with the way new defensive coordinator Jonathan Gannon was using him midway through last season.
Cox’s new contract wasn’t the only cap maneuvering the Eagles did this week. According to ESPN’s Field Yates, the team restructured Darius Slay’s deal to create $11.94 million in cap space this offseason.
Aside from bringing back Anthony Harris and Boston Scott, who briefly hit the market, the Eagles’ only big move in the first week of free agency was signing 27-year-old edge rusher Haason Reddick to a three-year, $45 million contract.
Clearing space with Slay’s restructure could afford them the room to aggressively pursue the next tier of free agents, although the team still has to preserve enough space to sign draft picks next month.
