The San Francisco 49ers took another significant step to get under the $208.2 million salary cap, especially if the team can't trade its quarterback, Jimmy Garoppolo, by Wednesday at 1 p.m. PT.
ESPN's Field Yates reports that the 49ers have restructured the contracts of tight end George Kittle and defensive lineman Arik Armstead. The moves will open up $18.756 million in cap space.
According to Spotrac.com, the 49ers converted $13.03 million of Armstead's salary into a signing bonus while adding a void year, which freed up $10.424 million. The 49ers did something similar with Kittle, converting $10.415 million of his salary into a signing bonus while adding one void year, which freed up $8.33 million.
According to OverTheCap.com's new estimates, the 49ers currently own about $9.2 million in salary-cap space.
The 49ers restructured the contracts of TE George Kittle and DT Arik Armstead, creating $18.756M in 2022 cap space, per source.
— Field Yates (@FieldYates) March 16, 2022
Armstead signed a five-year, $85 million contract extension with the 49ers on March 16, 2020, including $48.5 million guaranteed. Kittle signed a five-year, $75 million contract with the team on August 13, 2020, including an $18 million signing bonus, making him the highest-paid tight end in NFL history.
The restructures lower Armstead's 2022 salary-cap figure from about $20 million to about $9.58 million. Kittle's cap hit lowers from about $16 million to about $7.68 million. Both players' base salaries for 2022 are now at about the league minimum for veterans.
The moves will allow San Francisco to get under the $208.8 million salary cap by Wednesday's deadline while still carrying, and likely still shopping, Garoppolo. The team hopes to trade its starting quarterback of the past four-and-a-half seasons but has been unable to facilitate a deal to its liking.
The NFL quarterback picture continues to be fluid. While several quarterback-needy teams, like the Pittsburgh Steelers, Washington Commanders, and Denver Broncos, have filled those positions, others remain. Right now, the New Orleans Saints, Carolina Panthers, Cleveland Browns, and Atlanta Falcons are engaged with Houston Texans quarterback Deshaun Watson. The Indianapolis Colts also remain a possibility.
"It seems a little far-fetched, I would say, to imagine a trade happens at any point soon," NFL Media's Ian Rapoport said on Tuesday. "The Pittsburgh Steelers, who were interested in Jimmy Garoppolo ... they are going to sign Mitchell Trubisky, so they are out. That leaves the Indianapolis Colts as the team with interest. There is nothing imminent there with the Colts.
"So, as of right now, Garoppolo remains a member of the San Francisco 49ers, and we will see if anything picks up, if anything changes, maybe around the time of the draft."
Garoppolo underwent shoulder surgery last week, and will not be able to throw until late June or early July. That has undoubtedly impacted his trade value.
Kirk Larrabee contributed to this article