Jimmy Garoppolo’s contract was restructured by the Raiders, creating $17 million in cap space

For the past six seasons, QB Jimmy Garoppolo was with the San Francisco 49ers. After finding a new starter in Brock Purdy last season, the 49ers moved on from Garoppolo. After Derek Carr left the Raiders for the Saints, Garoppolo was then signed by Las Vegas. 

This offseason, the team signed the 31-year-old to a three-year, $72.5 million deal. At signing, he was guaranteed $33.75 million. Ahead of the 2023 season, the Raiders announced they are restructuring the contract on Jimmy Garoppolo. It opens up $17 million in cap space for the Raiders. Compared to where they were before that restructure, the team now has some financial flexibility for this season.

The Raiders created $17 million in cap space, something the team needed if they wanted to be able to make an in-season move

The Raiders have restructured the contract of QB Jimmy Garoppolo, creating $17M in 2023 cap space, per source. pic.twitter.com/uXHI2uwaci

— Field Yates (@FieldYates) September 5, 2023

Reports of Jimmy Garoppolo’s contract restructure were broken by ESPN’s Field Yates. Not only did the 49ers find a new QB in Brock Purdy, but Garoppolo was also a free agent this offseason. When healthy, he was a great player for San Francisco. However, he struggled to stay on the field with the 49ers.

In six seasons with San Francisco, Garoppolo only played 15+ games just twice. With the 49ers, he had a QB record of 38-17. Now, he’s the new starter for the Las Vegas Raiders. After nine seasons with Derek Carr, Garoppolo gets the chance to take over. The Raiders traded away TE Darren Waller this offseason, but Garoppolo still has All-Pro Davante Adams as his WR1.

Update: #Raiders have created $17 million in cap space after restructuring the contract of QB Jimmy Garoppolo, per @FieldYates pic.twitter.com/yY3RtZv3UF

— Dov Kleiman (@NFL_DovKleiman) September 5, 2023

Before the Raiders restructured Garoppolo’s contract, the team was nearly $7 million over the salary cap. They have now cleared up a significant amount of cap space. It gives them the freedom to make moves during the season without having to worry. After a 6-11 record in 2022, the Raiders are hoping for more success with Garoppolo as their starter.