Per Aaron Wilson:
Here is what the remainder of Callahan’s contract initially looked like:
| Year | Base Salary | Prorated Bonus | Roster Bonus | Cap Number | Dead Money | Cap Savings | |
|---|---|---|---|---|---|---|---|
| Regular | Per Game | (pre-June 1) | |||||
| 2020 | $3,000,000 | $1,333,333 | $3,500,000 | $500,000 | $7,833,333 | $6,166,667 | $1,666,666 |
| 2021 | $7,833,333 | $1,333,334 | $0 | $500,000 | $8,333,334 | $1,333,334 | $7,000,000 |
After the pay cut (and this is a pay cut, not a “restructure” as is being politely reported), this is what it looks like:
| Year | Base Salary | Prorated Bonus | Roster Bonus | Cap Number | Dead Money | Cap Savings | |
|---|---|---|---|---|---|---|---|
| Regular | Per Game | (pre-June 1) | |||||
| 2020 | $1,250,000 | $1,333,333 | $3,500,000 | $250,000 | $6,083,333 | $6,166,667 | ($83,334) |
| 2021 | $6,500,000 | $1,333,334 | $382,353 | $500,000 | $8,715,687 | $1,333,334 | $7,382,353 |
In sum, Callahan has agreed to forgo $1.75 million of base salary and $250,000 of per game roster bonuses in 2020 in order to stay on the team. That money is instead converted into an incentive based upon snap counts during that season. That makes sense, given he missed all of 2019 and has a reputation for durability concerns. This pay cut gives the Broncos an extra $1.8 million in cap space for 2020.
Also of interest is that the only thing Callahan got in return is a $382,353 roster bonus if there are 17 games in 2021. That odd looking number is not a random one: it’s 1/17th of his $6.5 million base salary that season.