Bart Scott discusses the Panthers' trade for Stephon Gilmore, and the Patriots' return of Jamie Collins. (1:40).
FOXBOROUGH (Mass.) Surprise Wednesday: The New England Patriots plans to trade Stephon Gilmore, their cornerback, for a profit.
Gilmore, who was on the physically ineligible to perform list following surgery to repair a torn quad sustained in Week 15 of 2020, started the season. He was then sent to the Carolina Panthers to be a 2023 sixth-round pick. He was named the NFL Defensive Player-of-the-Year in 2019, and was a two-time All-Pro and four-time Pro Bowl selection.
Here are some key points.
Why is Gilmore being traded by the Patriots?
Three main factors are at play: contract, salary cap and injury. According to ESPN's Adam Schefter the Patriots have $54,000 of salary cap space. This is not enough to make the necessary moves to move forward with the remainder of the season such as the expected signing of Jamie Collins, linebacker. Trade Gilmore nets $5.8million in space. However, the Patriots could have explored other areas for space. They might have been more likely to look at other areas if they could have reached a restructured deal with Gilmore. The club was unable to reach a contract agreement with Gilmore and had to consider whether it could justify the cost of Gilmore's recovery from quad surgery.
What caused the breakdown of contract negotiations?
Gilmore was expected to make a $7 million base salary this season. This is lower than the market value for a player his size. The low salary was due to the fact that Gilmore's $65 million five-year contract was front-loaded with guaranteed cash. In addition, the team gave him $5 million for his 2020 salary. Both sides tried to reach a compromise, including sweetening his 2021 contract or extending it for a longer period, but could not agree.
Stephon Gilmore, who signed with the Patriots in 2017, has intercepted 11 passes and was named NFL Defensive Players of the Year in 2019, when he had six. Charles Krupa/AP Photo
How can the Patriots make so much salary-cap room?
It is rare to be able release a veteran player like Gilmore while saving $5.8 million on the cap. This is because Gilmore was not on the 53-man roster, but on the PUP list. This gets a bit deep into the salary-cap/collective bargaining agreement weeds, but players on the PUP aren't guaranteed their salary through termination pay until they are on the 53-man roster. The Patriots keep Gilmore's salary, roster bonuses, and the last 13 weeks of Gilmore’s salary.
What was the secret to making this trade possible?
At 8:20 a.m., the Patriots announced that Gilmore would be released. ET, but Gilmore's release would not become official until after 4 p.m. ET, and so interested teams were able to call the Patriots to try to trade for him. This avoided a situation in which they would have been competing on the open market for his services. It is possible that Gilmore's agent Jason Chayut negotiated a contract prior to the trade being completed.
Where could Gilmore land?
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Gilmore hails from Rock Hill, South Carolina. The Panthers were the league's leaders in cap space ($19.2million, per Over the Cap). Jaycee Horn is a cornerback and their first-round pick. However, the team traded for CJ Henderson in order to fill the void. The Panthers offered the location and cap space that were attractive to the 2019 Defensive Players of the Year. Gilmore was a consideration because the Green Bay Packers had a secondary need and have about $7 million of cap space. The Kansas City Chiefs have similar needs with about $3 million each, so Gilmore had at least to be considered.
What does this mean for the Patriots
J.C. Jackson, Jalen Mills and Jonathan Jones are their top cornerbacks. Jonathan Jones is the top option in that slot. It was expected that Mills would shift to a more hybrid safety/corner role once Gilmore was back, but this will likely keep Jones on the outside. It also shines a spotlight on 2021 fifth-round draft Shaun Wade (Ohio State), who was acquired from Baltimore Ravens in a trade in September. Wade is 6-foot-1 and 191 pounds, with a similar physical profile to Gilmore. He has not yet been active for a game. Joejuan Williams (2019 second-round pick at Vanderbilt) is also on this depth chart, but was not available for Sunday's 17-17 loss to the Buccaneers.
