Feb 28, 2023; Indianapolis, IN, USA; Minnesota Vikings general manager Kwesi Adofo‐Mensah speaks to the press at the NFL Combine at Lucas Oil Stadium. Mandatory Credit: Trevor Ruszkowski-USA TODAY Sports.
The Minnesota Vikings clobbered the New York Giants 28-6 to start the 2024 season, causing newfound optimism for fans after oddsmakers claimed the team would win only about six or seven games this year.
And with newfound optimism, there is also newfound cap space.
Minnesota’s front office formally converted some of tight end T.J. Hockenson’s contract, enabling the Vikings to showcase about $8 million in cap space as of September 9th. VikingsTerritory’s Sean Borman tweeted Tuesday, “According to OTC, $8.8M of Hockenson’s 2024 base salary was converted to bonus, lowering his cap hit by $6.9M. Vikings now have $7.8M in cap space.”
The move affords general manager Kwesi Adofo-Mensah flexibility, so when injuries arise — they will — the team has a little bit of cash to spend on new players.
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. With the Hockenson maneuver, however, the ranking climbed to 23rd in the league per available funds.
What’s next with the $8 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 two 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 $8 million provides relief. The team doesn’t have to feel “stuck” when a new player is needed.
It’s also worth noting that “only $8 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 $70 million in cap space for 2025.
The Vikings host the San Francisco 49ers this weekend at U.S. Bank Stadium, and oddsmakers believe they’ll lose by six points.
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 MIN 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.