The Eagles have had very little cap space to work with for a few months now, so cap moves were expected to be made at some point in the near future.
OverTheCap.com now has the Eagles with $3,642,144 in available cap space.
McLeod, 26, originally signed on with the Rams as an undrafted free agent out of Virginia back in 2012. After four years with the Rams, McLeod departed in free agency last year and signed a five-year, $37 million contract that included $17 million guaranteed with the Eagles.
McLeod stands to make base salaries of $4 million (2017), $6 million (2018), $7.5 million (2019) and $8.5 million (2020) over the remainder of the agreement.
In 2016, McLeod appeared in all 16 games for the Eagles and recorded 83 tackles, one sack, three interceptions, a forced fumble and seven pass defenses. Pro Football Focus has him rated as the No. 36 safety out of 90 qualifying players.