BREAKING NEWS: Browns restructure veteran QB contract, as they add $36M to his contract

The Cleveland Browns have restructured quarterback Deshaun Watson’s contract, freeing up nearly $36 million in salary cap space for the 2024 season, according to a report from UPI.

This move was accomplished by converting $44.79 million of Watson’s $46 million base salary into a signing bonus. As a result, the Browns now have a league-leading $62 million in salary cap space for 2024.

Watson’s contract, a five-year, $230 million fully guaranteed deal signed in 2022, has been restructured each of the last three years. Despite his limited playing time due to injuries and suspension—he started only six games in both the 2022 and 2023 seasons—Watson remains a key part of the Browns’ future plans. His contract, which runs through 2026, includes significant salary cap hits of $72.9 million in both 2025 and 2026, with potential dead cap charges of $172.7 million and $99.8 million if he were to leave the roster.

The Browns’ financial maneuvering places them in a strong position heading into the upcoming season, which they will kick off against the Dallas Cowboys on September 8 in Cleveland.