The San Francisco 49ers, who acquired defensive tackle Maliek Collins in a March trade with the Houston Texans, have restructured his contract, per Spotrac.com. Initially, Collins had two years remaining on his deal. The restructuring converts $6.79 million of his salary into a signing bonus, creating $5.432 million in salary cap space for the 49ers in 2024.
This move reduces Collins' cap hit for 2024 from $8.47 million to $3.04 million. However, his cap hit for the following year has increased from $10 million to $11.36 million.
To manage the cap impact, the 49ers added three void years to the contract. While 2028 will not carry a cap hit, there will be a $4.07 million cap hit in 2026 and a $1.36 million hit in 2027.
The $6.79 million signing bonus will be spread out over the next five years, meaning the resulting cap hit adjustment will be $1.358 million each year. However, Collins receives the total amount immediately.
The restructure comes as the 49ers near a finalized deal with All-Pro tackle Trent Williams, who is expected to end his lengthy holdout.
According to Spotrac.com, the 49ers lead the league with an impressive $50.5 million in available salary cap space, much of which will likely be rolled over into 2025.
The #49ers converted $6.79M of Maliek Collins' 2024 salary into signing bonus, adding 3 void years, freeing up $5.432M of cap space for the upcoming season.
San Francisco carries a league-high $50.5M of space into Week 1 according to our numbers.https://t.co/365LebVmgU
— Spotrac (@spotrac) September 3, 2024
