The New England Patriots have converted $2.85 million of defensive end Deatrich Wise’s base salary into signing bonus, according to ESPN’s Field Yates. The move creates $1.9 million in salary-cap space for 2022, with the Patriots needing room to add receiver DeVante Parker, who officially joined the team on Tuesday in a trade.
Wise signed a four-year, $22 million deal in 2021. With this restructuring, New England didn’t give him any new money, but instead paid him a lump-sum bonus. While that bonus immediately hits Wise’s wallet, the Patriots will pro-rate the money over the rest of his contract, splitting the salary-cap impact between the remaining years. It’s a common move for teams trying to get under the salary cap.
The Patriots converted $2.85M of DE Deatrich Wise’s base salary into a signing bonus, creating $1.9M in salary cap space per source.
A move made to accommodate the trade of WR Devante Parker.
— Field Yates (@FieldYates) April 6, 2022
Parker joins a group of receivers that includes Nelson Agholor, Kendrick Bourne, Jakobi Meyers and N’Keal Harry, among others.
