Browns restructure Deshaun Watson deal, again

The Browns have no good options when it comes to the final two years of quarterback Deshaun Watson’s fully-guaranteed contract. And so they’re whipping up a batch of salary-cap chicken salad.

PFT has confirmed multiple reports that the Browns and Watson have agreed to terms on a restructuring.

The news terms, however, aren’t what others have characterized them to be. The Watson contract already gave the Browns the right to convert a portion of his $46 million base salary into a guaranteed payment. At some point, the Browns likely will do just that, dropping his 2025 cap number from $72.935 million.

The new terms in the latest deal include a $200 million 2029 salary that becomes fully guaranteed if he’s on the roster on the third day of the 2027 league year. The Browns are expected to use the post-June 1 designation to release Watson on the first day of the 2027 league year, splitting his final cap charges into 2027 and 2028.

The move costs Watson nothing and it helps the Browns create cap space that can be used while he’s still on the team. It also qualifies him from injury protection under the CBA for 2027 and 2028.

The revised deal essentially guarantees that Watson will remain with the Browns through 2026. But that was always happening. They owe him $46 million in each of the next two seasons. The cap consequences of cutting him would be massive.

The real question is whether he’ll be the starter in 2025. While they have to pay him, they don’t have to play him.

And if the Browns play him, the fans might not want to pay for tickets to watch the games.