Texans Wideout Walter Restructures Contract

Houston Texans wide receiver Kevin Walter agreed to cut his 2012 base salary from $3.5 million to $2 million on March 16, according to Brian McIntyre of Mac’s Football Blog.

31-year-old Walter, who signed with the Texans prior to the 2006 season after stints with the New York Giants and Cincinnati Bengals, originally had a $4.5 million salary cap number to his name for each of the three remaining years of his contract. As a result of this development, his cap number for this season has been cut to $3 million, shedding $1.5 million in salary cap space for Houston, who reached the divisional round of the playoffs last season.

The final two years of his current contract have not been changed.

Walter caught 39 passes for 474 yards and 3 touchdowns last season, playing in all but one of the Texans’ games.

The Texans have had a quiet free agency thus far, their financial restraints playing a part in that; they’ve lost corner Jason Allen, guard Mike Brisiel, tight end Joel Dreessen and, most notably, linebacker Mario Williams, while re-signing center Chris Myers, long-snapper Jon Weeks and premiere running back Arian Foster, who signed a five-year contract worth up to $43.5 million.

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