The Las Vegas Raiders added some much-needed depth at wide receiver recently with the signing of veteran wideout and former Dallas Cowboy, Michael Gallup — and now we have the contract details.
According to Over The Cap, Gallup's deal is for one year and is worth $1.75 million but only includes $500,000 guaranteed. The original report had the deal worth up to $3 million, so there's clearly incentives to get it that high. Should Gallup get cut, the Raiders would incur a dead-cap charge of $827,000 and a cap savings of $922,500.
With the deal now on the books, the Raiders have a total of $17.7 million in effective cap space, per Over The Cap. Effective cap space takes into account the top-51 signings and the 2024 NFL Draft class.
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Las Vegas will have more cap relief after June 1, when the money saved from cutting quarterback Jimmy Garoppolo kicks in. That will be around $24 million.
Gallup will now look to challenge for the No. 3 wide receiver job that would have gone to Tre Tucker by default. He might have the edge because of experience but his contract does not scream roster lock by any means.
If Las Vegas is looking to strengthen its roster further, general manager Tom Telesco certainly has the cap space to do it, especially when he can count on the Jimmy G money less than a month from now.
