According to Field Yates, the Chargers have restructured the deals of WRs Keenan Allen and Mike Williams.
Both had base salaries converted into signing bonuses and spread over the remainder of their contracts. The move saves a total of $14.3775 million, including a shade under $9 million for Allen and a little over $5 million for Williams.
Williams just signed a major extension with the Chargers last season. There had been speculation about Allen’s status for this season but this restructure confirms GM Tom Telesco‘s assertion that the veteran isn’t going anywhere.
Allen, 30, is a former third-round pick of the Chargers back in 2013. He was entering the final year of his five-year, $46.671 million contract that included $20 million guaranteed when the Chargers signed him to a four-year, $80 million extension.
He was due base salaries of $15.5 million and $18.1 million in the final two years of his deal.
In 2022, Allen appeared in 10 games for the Chargers and caught 66 passes for 752 yards receiving and four touchdowns.
Williams, 28, was selected with the No. 7 overall pick by the Chargers out of Clemson in the 2017 NFL draft. He was entering the final year of a four-year contract worth $19.75 million which included a signing bonus of $12.50 million when the Chargers picked up his fifth-year option.
Williams made a base salary of $15.68 million in 2021 under the fifth-year option. He was in line to be an unrestricted free agent in 2022 when he signed a three-year, $60 million extension with the Chargers.
He’s due base salaries of $12 million and $17 million over the final two years of the deal.
In 2022, Williams appeared in 13 games and recorded 63 receptions for 895 yards (14.2 YPC) and four touchdowns.
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