Thielen restructuring-LFG

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https://twitter.com/i/status/1504826668082475009

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Kwesi methodically working down the salary cap list. Kendricks should be next, pending a resolution to Hunter's situation.

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Ben Goessling

@BenGoessling

·1m

Sounds like Adam Thielen's new deal includes a 2025 void year that will help reduce his cap number this season. Thielen got a signing bonus in the new deal and a bump in his 2022 base salary.

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Nick Olson

@NickOlsonNFL

·4m

Thielen's restructured contract is estimated to save $5-6M in 2022 cap space.

Sounds like his $12M 2022 salary was reduced in exchange for a guaranteed signing bonus spread out over the next four years (including a new void year tacked on for 2025).

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Brad Spielberger, Esq.

@PFF_Brad

·4m

Looks like $2.4M raise on salary plus a $3.6M additional signing bonus based on the $18M guaranteed

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Tom Pelissero

@TomPelissero

· 14m

#Vikings WR Adam Thielen's restructured contract includes $18 million guaranteed and he gets a raise to $14.4M this year, per source. A void year was tacked on for salary cap purposes as Minnesota continues to clear space.

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A healthy AT simply makes the team better.  The local Detroit Lakes guy can flat out play, and I'm glad he's sticking around.

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Nick Olson

@NickOlsonNFL

·3m

Based on the various reports, below is a back-of-the-envelope calculation of Thielen's old and new contract.

Thielen takes a big haircut in current and future salaries but gets $9M in bonus, $14.4M total this year and additional guarantees. #Vikings clear just under $5M of cap:

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@pattersaur said:
Apparently we’re already under the cap but is there a deadline for when restructures have to happen by? Is it today or can the Vikings do them whenever?

There is no deadline but if they want to be able to use cap space to sign anyone else then it behooves them to get it done quickly.

They had to get Thielen's permission because they added a void year.  I'm guessing his 2023 salary is lower in exchange for guaranteed money which he had none left.

The reports are he got a 9M signing bonus and will take him 14.4M this year.  If they left his 500K roster bonus and 100K workout bonus then his salary is likely 4.8M.

That gives him a 11.95M cap hit which saves 4.995M in cap space this year.

He must have a larger roster bonus next year payable early in March.

Take Hunter for example.  They can let the date pass where the owe him 18M and can move that money around any time they need the cap space.

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@JustinTime18™ said:
https://twitter.com/i/status/1504823818442973192

The Mythbusters did an episode on cliches including "hit the ground running" and found that it's actually slower than a standing start  :p