Jalen Mills’ contract restructure clears north of $3 million in cap space for Patriots

Jalen Mills’ reported release from the New England Patriots was never processed, but the veteran defensive back’s reported restructure was.

His new one-year contract created close to $3.3 million in cap space for the organization and carries a maximum value of $6.1 million with incentives, as detailed earlier this week by ESPN’s Field Yates.

Mills’ base salary was decreased from $5 million to $1.75 million, while $1 million of which is now fully guaranteed, according to Miguel Benzan of PatsCap. The 2016 seventh-round draft choice’s per-game active bonuses also were cut from a cumulative $1 million down to $500,000. A $250,000 offseason workout bonus was added, however.

Previously standing halfway through a four-year, $24 million deal that brought a $2.5 million signing bonus and $6.5 million in guaranteed salary, Mills had upcoming cap hits eclipsing $6.2 million and $6.6 million. Yet under the revised agreement, per Benzan’s accounting, the LSU product’s current hit checks in just north of $2.9 million before he is scheduled to become an unrestricted free agent next March.

The voided 2024 leaves $625,000 in dead money for the Patriots from his remaining signing bonus proration.

Mills, who turns 29 in April, missed seven games last season, including the final six due to a groin injury. That total is classified as “not likely to be earned” for 2023 cap purposes as a result.

The Super Bowl LII champion has started each of his 26 appearances with New England. He has done so primarily as an outside cornerback on the way to recording 78 tackles, 12 passes defended, two interceptions and one fumble recovery.

Opportunities as a free safety, where he was charted by Pro Football Focus for 236 snaps during his final Philadelphia Eagles campaign, are expected to lie ahead following the retirement of centerfield captain Devin McCourty.