The Minnesota Vikings have less salary cap space than any team in the NFL, an equation that needs to change ahead of draft day.
Cap relief can come in multiple forms, including pay decreases, contract restructures, trades or simply by making cuts. All four routes remain open for the Vikings when it comes to running back Dalvin Cook who is set to enter the third season of a five-year deal worth $63 million in 2023. However, Cook has already declined a pay cut and while at least one offer has come in, no trades have transpired. A significant contract restructure will probably require cooperation from the running back, and Cook has already displayed that he is disinclined toward a compromise.
As such, Cook’s release from the roster could be imminent — a development reported by ESPN’s Jeremy Fowler during SportsCenter on Saturday, April 15.
“I’m told all options are on the table here and that he could be released closer to the draft if things don’t work out,” Fowler said, per Bleacher Report. “They had talked to at least one team about a trade in the past closer to free agency, so he is certainly a name to watch.”
Vikings Save More by Trading Cook Than by Cutting Him
GettyRB Dalvin Cook of the Minnesota Vikings takes the field ahead of the NFC Wild Card Playoff Game against the New York Giants at U.S. Bank Stadium on January 15, 2023 in Minneapolis, Minnesota. (Photo by Stephen Maturen/Getty Images)
Minnesota can save more against the salary cap by trading Cook than the team can by cutting him.
Cook carries a cap hit of $14.1 million in 2023. According to Over The Cap, trading the running back before June 1 saves the Vikings $7.9 million while cutting him saves the team just $5.9 million. Waiting until the summer to make a move increases the team’s savings in either scenario — $9 million in savings if the Vikings cut Cook post-June 1 and $11 million saved if they trade him after that date.
Beyond that, a trade brings Minnesota back an asset, most likely a mid-round pick. However, the Vikings are going to need cap space sooner than June, especially if they decide to trade up from No. 23 in the first round to pursue a quarterback. And dealing Cook for a draft asset won’t help the team in 2023 unless a trade is completed before the end of this month.
One potential way out of the conundrum for the Vikings is executing a trade for edge rusher Za’Darius Smith, who has pushed for his release from the team for the last month and a half. Smith is scheduled to cost nearly $15.5 million against the cap next season. Trading Smith ahead of the draft will save the Vikings $12.2 million.
General manager Kwesi Adofo-Mensah said during an April 13 press conference that the Vikings have been in contact with the representatives of both Cook and Smith. He was complimentary of both players, though he would not commit to either being on the roster when the new NFL season kicks off in September.
Vikings Have Cut Massive Money, Household Names This Offseason
GettyMinnesota Vikings QB Kirk Cousins (right) and former WR Adam Thielen (left) celebrate a victory over the New Orleans Saints in the NFC Wild Card Playoff Game at Mercedes Benz Superdome on January 5, 2020 in New Orleans, Louisiana. (Photo by Chris Graythen/Getty Images)
Financial frugality has been the primary theme of Minnesota’s offseason to this point, as the team released linebacker Eric Kendricks and wide receiver Adam Thielen before waiving cornerback Cameron Dantzler and convincing safety Harrison Smith to accept a 50% pay cut.
The Vikings chose not to re-sign cornerbacks Patrick Peterson or Duke Shelley, and to let defensive tackle Dalvin Tomlinson walk in free agency. The team then restructured the final year of quarterback Kirk Cousins‘ contract to reduce his 2023 salary cap hit by $16 million.
All of that and the franchise still has just $1.45 million in cap space for next year, and that’s without having signed any draft picks or agreeing to a massive looming extension with wide receiver Justin Jefferson, which could get pushed off a full year.
Something has got to give in the discussions between Cook and the Vikings, and whatever the outcome, a resolution should become apparent sooner than later.
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Vikings Consider Cutting $14 Million Pro Bowler Ahead of Draft: Report