In order to acquire wide receiver DeVante Parker from the Miami Dolphins, the New England Patriots had to find a method to free up some space under the NFL’s salary cap.
According to ESPN’s Field Yates on Wednesday, the Patriots freed up about $2 million in salary cap space by converting nearly $3 million of defensive end Deatrich Wise’s base salary into a signing bonus.
With this adjustment, the Patriots were able to accommodate Parker’s $6 million cap cost. This trade to the Dolphins was finalized on Tuesday.
Parker’s deal is one of the more favorable ones in the league from the perspective of the franchise. Over the following two years, he will make about $5.6 million in salary each year and have a cap hit of about $6 million. For a player of his caliber, that’s a steal.
Parker’s durability is our only major worry. Since he was drafted in 2015, he has played in only one full season. When fully recovered, Parker is a dangerous deep threat who has dominated the league in contested catches since 2019.
According to OverTheCap, the Patriots have the second-smallest amount of available salary cap space among NFL teams right now.
DeVante Parker Contract
DeVante Parker inked a four-year, $30 million contract with the Miami Dolphins. The deal includes a $9 million signing bonus and $21.7 million is guaranteed.
DeVante Parker Salary
DeVante Parker makes an average of $7,625,000 per year. Parker’s base salary in 2022 will be $5,650,000. He will also get a roster bonus of $275,720 and a workout bonus of $100,000.
DeVante Parker Net Worth
DeVante Parker is one of the highest earners in the NFL. He has a net worth estimated at $10 million dollars