Back in January, the Chicago Bears and Jay Cutler agreed to a seven-year contract worth $126.7 million, including $54 million guaranteed.
The Bears, hoping to create cap space as they currently have just over $7 million to play with right now, went to Cutler to free up money.
According to Brian McIntyre, the Bears have reworked Cutler’s salary to free up $4 million in cap space.
The Bears converted $5M of Jay Cutler’s $22.5M base salary into a signing bonus, creating $4M in 2014 cap space.
— Brian McIntyre (@brian_mcintyre) March 24, 2014
Cutler was originally selected by the selected with the 11th overall pick in the 2006 NFL Draft by the Denver Broncos. Cutler played in five games in his rookie year before becoming the full time starter in 2007. After the 2008 season, he clashed with head coach Josh McDaniels and was traded to the Chicago Bears.
Cutler immediately helped improve the Bears, even leading them to the 2010 NFC North Title and an appearance in the NFC Championship Game, in which they lost to their bitter rival and the eventual world champions, the Green Bay Packers.
Last season, Cutler completed 224 of 355 passes for 2,621 yards with 19 touchdowns and 12 interceptions in 11 games.