On the first day of free agency, the Los Angeles Rams signed guard Jonah Jackson and tight end Colby Parkinson to contracts worth a combined $73 million. To put it another way, the revelation that the Rams have contributed an average of $24 million annually to their cap with Jackson and Parkinson comes only days after Los Angeles decided to give Kevin Dotson an average salary of $16 million per year.
The Rams had almost $40 million in cap space in 2024 when they went into free agency. At this point, how much do they most likely have left?
Rams 2024 jersey
According to Over the Cap, the Rams had roughly $29 million in cap room and $25 million in “effective” cap space prior to the addition of Jackson and Parkinson.
More contracts operate this way: a significant amount is distributed as a signing bonus and is subsequently spread out over the course of the contract, if not longer. Thus, two $5 million prorated bonus payments against each of the two years of the salary cap would result from a $10 million signing bonus for a two-year contract; the remaining amount would come from base salary and other bonuses.
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3/$51 Jonah Jackson
Jackson signed a three-year contract with $34 million in guaranteed. A guarantee usually includes the signing bonus, the first year of the agreement, and occasionally all or part of the second year. Joel Bitonio, a guard with the Browns, signed a contract that was nearly exact to Michael Jackson’s in terms of years, total, and guaranteed money. Under the contract, Bitonio had a $6.7 million cap hit in the first year.
On the deal, there were four void years included in this. It’s unknown if there are any vacant years in either of the Rams’ contracts.
It would be reasonable to assume, for the purposes of simplicity, that Jackson’s deal has a $7–9 million cap hit. In 2025, the amount is probably going to rise to $17 million or more.
Parkinson Colby – 2/$22.5
I thought Parkinson would receive a salary similar to that of Josh Oliver, the tight end for the Vikings, a man most fans had never heard of before he was paid. Oliver agreed to a $21 million, three-year contract that included a $10.7 million guarantee. His deal included two vacant years at the back end, and his first-year cap hit was $2.5 million.
Parkinson’s is similar to that with a cap increase: $22.5 million and $15.5 million assured.
Parkinson’s first-year cap hit should be in the range of $3–$5 million, in my opinion.
What’s left for the Rams?
I estimate that the Rams will have used between $10 and $14 million of their $29 million in cap space for 2024 if they were to enter free agency. The Rams have $17 million in total cap space and $13 million in effective cap space if we average that to $12 million.
$13 million: what can you do with it?
Lots. As you can see, the Rams used almost $10 million in 2024 cap space to sign two starters (Parkinson isn’t actually a starter, but he will play a lot of snaps). Thus, in free agency alone, the Rams could theoretically target three additional important players.
However, the Rams were able to have more cap space.
Indeed, they will. The Rams are trying to figure out a way to avoid cutting Joe Noteboom. Despite Noteboom’s ridiculous $20 million cap number, he has a lot of clout because his release only saves L.A. $5 million. The Rams do, however, have some negotiating power because he has a $5 million incentive and a $10 million salary that he will not receive if he is released.
Noteboom has the chance to go on the market and earn almost $15 million in a new contract, given that guards are paid so much in free agency. A decision will be made by next Monday, when his roster bonus is due. The Rams will, at worst, save $5 million after signing Jackson, as it is unlikely that they will retain Noteboom under his present contract. They may be able to save considerably more if they can get Noteboom to stay for far less.
However, I believe Noteboom will be slashed and L.A. will absorb the lost revenue this year, saving $5 million. The Rams’ cap space is restored to $18 million as a result.
Next, in order to free up an additional $20 million in cap space, I wouldn’t be shocked if the Rams renegotiated Matthew Stafford’s contract. His 2025 cap hit goes from $50 million to $60 million as a result, but in the grand scheme of things, that’s not as absurd as it seems.
If Aaron Donald is willing to stay on and not retire for at least another two years, then another option is to give him a longer contract. He will be a free agency in 2025 and will have a $34 million cap hit in 2024.
The Rams require cap space; why?
The Rams have three important players—Stanford, Donald, and Cooper Kupp—who are nearing the end of their careers rather than the start: they haven’t taken any action to address their defensive issues. The Rams may be able to target a quarterback or another luxury pick with their first-round selection if they focus on wide receivers and defensive tackles in free agency. However, that is just one theory.
For the Los Angeles Rams, 2024 appears to be a good “all-in” year. Although $13 million is more than most people anticipated, $18 million is only around the horizon, and $38 million+ is not that difficult to attain. Monday saw a large number of talented players leave the free agent market, but there are still many available.
