The Bears bit hard and swallowed early in the offseason when they cut Cody Parkey. And it wasn’t just because they had to part ways with a kicker whose playoff miss has its own special name, either. Parkey’s cut came with a decision: do it now and lose an estimated $1.125 million in 2019 cap space, or do it later, spread the hit, and save in the process.
Understanding cap economics isn’t easy, but I think the Bears chose wisely:
Four NFL teams will receive cap space tomorrow as a result of previous post-June 1 releases:
* Chiefs: $9.55M (Eric Berry)
* Panthers: $7M (Matt Kalil)
* Falcons: $6.45M (Ryan Schraeder)
* Bears. $1M (Cody Parkey)
— Field Yates (@FieldYates) June 1, 2019
By designating Parkey as a post-June 1 cut, the Bears are set to receive $1 million in salary cap space the team didn’t have previously. And while $1 million doesn’t seem like much, take note that OverTheCap.com estimates the Vikings have $1,129,984 in available cap space total right now. The Bears essentially cleared that simply by thrifty cap management of a tough situation.
OTC estimates the Bears have $17,591,375 in available cap space, while spotrac.com’s assessment of the team’s cap situation has Chicago with $17,652,738 in space. That extra million will put the Bears’ available cap space at a little more than $18 million starting tomorrow. Not bad for a team that appeared to be up against it earlier in the offseason. Credit the Bears front office, as well as a handful of players who re-worked deals in order to give the team some much-needed flexibility. Team work makes the dream work, baby!
As of now, the Bears don’t have a ton of desperate needs. That’s because the Bears were a good football team last year and are bringing back a vast majority of the players who helped them win the 2018 NFC North title. But if one was to pop up, they are well-positioned to pounce on the right situation.
Perhaps the team will opt for a veteran kicker who will ask for a bigger chunk of change than what the team is giving one of the three guys already in camp. Maybe a certain tight end becomes available for Chicago’s offensive mix. Heck, the Bears could take some of that available cap space and hand out an extension or two. This front office has been known to reward its home-grown talent with fair extensions over the years. To be sure, GM Ryan Pace has options, and it would behoove him to keep them open this summer.