Carson Wentz is gone.
The Eagles have officially started a complete rebuild after trading Wentz to the Indianapolis Colts, a deal that netted them back a 2021 3rd-round pick and a 2022 2nd-round pick that could turn into a 1st-round pick. It is a deal that sets them up to completely remake this team in the next two seasons.
Here is a look at where they stand in terms of cap space and draft picks following the trade:
2021 Cap Space:
There will be plenty made of the $33.8 million dead-cap hit, and in some ways rightfully so — it is the biggest in NFL history. By trading Wentz the Eagles actually save a little under $1 million in salary cap space, as his cap number goes from $34.6 million to $33.8 million. So it doesn’t have a huge impact in their overall cap picture for the season.
How much cap space they have is still yet to be determined by what the salary cap is in 2021. According to an NFL Network report, the NFL and NFLPA have started to negotiate the 2021 cap and it is expected to be above the $175 million base that was agreed upon prior to 2020. How much higher that number comes in is obviously huge for the Eagles, with an ESPN report over the weekend suggesting it could come in at around $181 million.
If the cap comes in at $181 million, and you add in the $21 million in rolled over space from the 2020 season, the Eagles’ cap would be at around $202 million. If it comes in even higher — like around the $198 million it was this season — the Eagles’ cap would be $219 million.
Bottom line? If the cap comes in at $181 million, which seems most likely, the Eagles would be about $49 million over the salary cap. If it comes in at $198 million, which is looking less-and-less likely, the Eagles would be about $32 million over the cap.
So they still have work to do, obviously. But overall, the trade of Wentz opened up around $1 million in space.
2022 Cap Space:
The real money saved by trading Wentz happens in 2022. By trading Wentz now, and not waiting a year to see if he could turn it around, the Eagles now have him completely off the books in 2022. Their projected salary cap space goes from around $40 million to around $71 million by moving Wentz.
That number will change plenty between now and next offseason, but the team is in a great financial spot in 2022 by making this deal now instead of risking another year with Wentz on the books.
2021 Draft Picks:
The Eagles hold the following picks in the 2021 NFL Draft:
No. 6, 1st round
No. 37, 2nd round
No. 70, 3rd round
No. 85, 3rd round (from Indianapolis)
No. 134, 5th round
No. 140, 5th round (from Dallas)
No. 165, 6th round
No. 198, 7th round
2022 Draft Picks:
The Eagles hold the following picks in the 2022 NFL Draft:
1st round pick (their own)
2nd round pick (their own)
2nd round pick (Indianapolis Colts, could be 1st-round pick)
3rd round pick (their own)
4th round pick (their own)
5th round pick (their own)
6th round pick (their own)
7th round pick (their own)
Overall, the Eagles have 14 draft picks to work with over the next two seasons.
You can reach Eliot Shorr-Parks on Twitter at @EliotShorrParks or email him at firstname.lastname@example.org!