The Redskins cleared $2 million off of their penalty-reduced salary cap by restructuring the contract of cornerback Josh Wilson, a source with knowledge of the move confirmed Friday.
The move was necessary so that the team could sign the seven draft picks they are scheduled to select this weekend. The Redskins now have $2,029,949 in salary cap space, according to NFLPA records.
Wilson’s cap hit had been $5.3 million, but it will be $3.3 under the new deal, which, like the previous one, expires after the 2013 season. The 28-year-old will earn $2 million in base salary next season, down from $3.9 million under terms of the previous contract.
Asked on Wednesday if the team needed to restructure a contract or release a player to create enough cap space to sign its draft picks, Coach Mike Shanahan said, “We’ve got a game plan. I feel every good about where we’re at. Any time you lose $36 million, as we’ve talked about, it’s not a perfect scenario.”
Prior to redoing Wilson’s deal, the Redskins were a scant $30,000 under the cap.
Wilson is the fourth Redskin to accept a pay cut this offseason, joining veterans Santana Moss, Brandon Meriweather and Adam Carriker.
Wilson, who battled a shoulder injury for much of last season, finished with 74 tackles, two interceptions and a sack. ProFootballFocus.com ranked him as the 27th best cornerback out of the 71 who saw at least 50-percent of their team’s snaps on defense.
The move was first reported by Zac Boyer of The Free Lance-Star.