Hoping to add a few million dollars of additional cap space, the San Diego Chargers asked quarterback Philip Rivers to restructure his contract, to which the signal caller agreed.
Per the San Diego Union Tribune:
Rivers was due to earn $12 million in base salary this season. The restructure adds no new money to the quarterback’s contract that runs through 2015, simply transferring $5 million of that $12 million into signing bonus. The bonus becomes prorated over the life of the three remaining years, hence the approximate $3.3 in new space.
The move was reportedly made so the Chargers could sign a player, likely to re-sign linebacker Donald Butler to a contract extension.
Butler and the Chargers had been working on an extension the past few weeks but there was never any indication that a deal was close, however, things may have changed as Butler likely would prefer to avoid contractual discussions lingering into the season.
It’s also possible the Chargers have their eye on a free agent, though, Butler’s extension seems to be the more likely scenario.