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Monday, February 24 Updated: March 25, 4:56 PM ET Titans trim $5M off cap with contract moves Associated Press |
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NASHVILLE, Tenn. -- The Tennessee Titans have restructured contracts for quarterback Steve McNair and right guard Benji Olson, trimming $5 million off their salary cap as they try to get below the projected $75 million cap for the upcoming season.
The Titans started the offseason approximately $14 million over the cap and must be below the cap when free agency starts Friday. Their first move was releasing backup quarterback Neil O'Donnell last week.
McNair had a team-high cap charge of $8.117 million for 2003, and he helped the Titans save the most money. The Titans and McNair moved around money in his current deal to save more than $3.2 million against the cap.
"We've said all along things were going to be a little more difficult this year because, in terms of the cap, our roster is lean,'' Titans general manager Floyd Reese told The Tennessean at the NFL combine.
"But we're making some progress. We're a little ahead of the past few years at this point, but we've still got some things to do.''
The latest restructuring leaves the Titans $8 million over the cap.
The Titans had no comment on the restructuring, saying they did not discuss contract negtiations. McNair's agent, Bus Cook, did not return phone calls left by The Associated Press.
Reese also said the Titans are trying to rework contracts for other players including cornerback Samari Rolle, due to count $7.38 million against the cap; tight end Frank Wycheck, due a $3 million roster bonus when free agency begins; and linebacker Randall Godfrey, due to count $8.08 million against the cap.
The Titans already have asked Godfrey to take a big pay cut. If he doesn't, he likely will be released sometime this week.
"There are some cases where if guys aren't interested in some adjustments, we're going to have a problem,'' Reese said. "But we have some time and we'll use it.'' |
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