Vikings Clear Even More Cap Space
Not long ago, the Minnesota Vikings had breadcrumbs for cap space.
Vikings Clear Even More Cap Space
Fast forward to September 12th, and general manager Kwesi Adofo-Mensah owns about $11 million to spend on free agents, existing players’ deals, or a rainy day in 2024-2025.
Minnesota extended Harrison Phillips’ contract this week, connecting him to the franchise through the end of 2026. Along the way, Phillips’ deal freed up some 2024 cap space. VikingsTerritory‘s Sean Borman tweeted Thursday, “Per OTC, the Harrison Phillips extension reduced his 2024 cap hit by $3,352,778. Phillips got a signing bonus of just over $5M and will earn $7.5 APY.”
Phillips’ new cap hits are as follows:
- 2024 – $5.48M
- 2025 – $9.17M
- 2026 – $9.17M
Meanwhile, after ranking at the very bottom of the business two weeks ago per available cap space, Minnesota has climbed to 19th and can now spend more flexibly.
Tight end T.J. Hockenson’s contract was wiggled to free up around $7 million for 2024 last week.
Right before the start of the season, Minnesota had just $903,579 in available funds, the lowest in the NFL. Free-agent dollars recently found cornerback Stephon Gilmore’s piggybank, sinking the Vikings’ on-hand cash to mere NFL peanuts.
So, what’s next with the $11 million? There’s no evidence to suggest an impending roster addition from free agency. The Vikings’ depth chart is pretty established, evidenced by the beatdown handed to the Giants in New Jersey four days ago. Of course, the Vikings could improve at defensive tackle, for example, but that has been the case for seven months. Put plainly — not many high-impact free agents exist on the open market.
Adofo-Mensah could also be moving money around for an existing player’s extension. Safety Camryn Bynum entered 2024 on the final year of his contract, and the Vikings’ front office + Bynum have reportedly worked toward a new agreement for the last few months. Some would argue, though, that deal would’ve happened by now and has perhaps become a 2025 offseason matter.
Otherwise, injuries — more of them — will inevitably arise in the next 17 weeks. That’s just how the sport works. With $903,579, Minnesota could sign virtually no notable free agents. However, the $11 million provides relief. The team doesn’t have to feel “stuck” when a new player is needed.
It’s also worth noting that “only $11 million” in cap at the moment for the Vikings is rather temporary. When the offseason arrives in January or February, Minnesota is on deck to boast around $76 million in cap space for 2025.
Phillips said about his two-year, $19 million extension this week: “I understand how rare it can be for defensive linemen getting near their 30s, third contracts, stuff like that. I understood, too, from a player perspective who wants this organization to be as good of an organization as we can, that we needed to address our quarterback situation. We needed to figure out the Justin Jefferson situation. We needed to lock up one of the best tackles in the NFL.”
“So, you know, I just prayed a lot, understood that my time would come if God wanted it to,” he concluded.
On the whole, if a Vikings fan sees a fascinating free agent on the wire, the purple team can now afford him.
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Dustin Baker is a political scientist who graduated from the University of Minnesota in 2007. Subscribe to his daily YouTube Channel, VikesNow. The show features guests, analysis, and opinion on all things related to the purple team, with 4-7 episodes per week. His Vikings obsession dates back to 1996. Listed guilty pleasures: Peanut Butter Ice Cream, ‘The Sopranos,’ Basset Hounds, and The Doors (the band). He follows the NBA as closely as the NFL.
All statistics provided by Pro Football Reference / Stathead; all contractual information provided by OverTheCap.com.
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