Randall Cobb is back in Green Bay, and the veteran receiver is taking a pay cut. ESPN’s Field Yates reports (via Twitter) that Cobb has restructured his contract.
Specifically, Cobb and the Packers converted $4.075MM of the player’s $5.25MM salary into a signing bonus. The team also added a 2023 void year to the contract, thus dropping Cobb’s 2021 cap hit to $2.68MM. While this move will provide the organization with some much-needed breathing room this season, it will also exacerbate the team’s future cap concerns.