Bears Restructure Julius Peppers’ Contract, Save $8 Million Dollars
The Bears have restructured the contract of pro-bowl defensive end Julius Peppers. This move saves the Bears $8 million dollars which they can use in free agency or to help retain their own players.
Tribune News Services
The Chicago Bears have restructured Pro Bowl defensive end Julius Peppers’ contract to create more salary-cap room for next season.
A person with knowledge of the situation confirmed the move Thursday night. The person spoke to The Associated Press on condition of anonymity because the team had not announced it.
ESPNChicago.com was the first to report the restructure.
Peppers signed a six-year deal worth potentially $91.5 million a year ago, was due a $10.5 million roster bonus for next season. Instead, the team exercised its right to convert that money into a signing bonus and prorate it over the remaining years of his contract, which runs through the 2015 season.
That saves roughly $8 million in cap space for next season, giving the Bears more room to bring in free agents and retain their own.
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