The Minnesota Vikings have been busy making moves to become salary cap compliant by the start of the new league year next week, clearing what was once a $45 million salary cap deficit. The Vikings have announced that they will be parting ways with Aaron Jones, Javon Hargrave, and Jonathan Allen. They’ve also restructured the contracts of Justin Jefferson, Christian Darrisaw, and Byron Murphy Jr., converting their base salaries this year to signing bonuses which for salary cap accounting purposes pushes most of their cap hit into future years.
That’s something GMs need to judicious about doing- and typically only do so with ‘sure thing’ type players- as it also increases the dead cap hit if the player is released and can also lead to more top-heavy salary cap rosters down the road. Vikings’ acting GM and salary cap guru Rob Brzezinski has not been overly aggressive with these moves, but in an era with significant expected salary cap increases in future years, these moves have become more common.
Lastly, Ryan Kelly announced his retirement, as widely expected, which provides about $8 million in additional salary cap savings for the Vikings this season. Altogether, the Vikings have gone from a $45 million deficit to a roughly $26 million surplus as it stands currently. There is some question about whether Jonathan Allen will be designated a post-June 1st release, which seems more likely, and would provide more 2026 salary cap savings than if he wasn’t, but for the moment will go with the $26 million surplus amount.
The Vikings will also need to account for the salary cap cost of signing all their draft picks later this spring/summer. The nominal cost of doing so would be $14.7 million (which includes estimated compensatory picks). However, the salary cap limit is for the top 51 contracts on a team’s roster and so to the extent that $14.7 million in new contracts offsets other contracts on the roster, that amount is lowered. So, the estimated net salary cap cost for the Vikings to sign their draft picks is currently $6.7 million. That can change based on roster/contract changes, and draft pick changes, but probably not by much.
Additionally, the Vikings typically keep around $5 million or so in salary cap space available during the season in the event of emergencies- injuries that require signing another player, etc. So, accounting for draft picks and the $5 million salary cap buffer, the Vikings have about $14 million in salary cap space available at the moment.
Signing Their Own
The Vikings will likely dedicate some of their available salary cap space to signing their own free agents. Guys like Jalen Redmond, Bo Richter, and Zavier Scott for example, who they’ve already announced they are extending as Exclusive Rights Free Agents (ERFAs) that give the team the option to extend them for a year at the veteran minimum salary. These aren’t likely to count much against the top 51 salary cap contract limit. But there are other former Vikings free agents they may want to sign as well. Eric Wilson may prove to be the most expensive of the ones they extend- his estimated market value is $4.3 million according to Spotrac. But the Vikings don’t have a punter or a long snapper currently, and extending Ryan Wright and Andrew DePaola, if that’s the road they take in filling those jobs, will likely take a couple million off the salary cap. There are some others too that could be extended- Tavierre Thomas, Fabian Moreau, and Justin Skule to name a few more likely names.
Doing all that probably leaves the Vikings with around $7 million or so in available salary cap space.
Other Salary Cap Moves Likely Coming Soon
The Vikings are also reportedly shopping Jonathan Greenard, who is reportedly seeking a salary increase the Vikings don’t want to pay him. The Vikings are doing so reluctantly, as they like the player and contract, but the rumor is that there are a lot of teams interested in trading for Greenard. The Vikings could receive a second-round draft pick or equivalent for Greenard if he is indeed traded. A trade would also increase the Vikings’ available salary cap space by $12.25 million this year, which would give them roughly $19 million available.
The Vikings are also reportedly looking to either cut T.J. Hockenson’s salary or potentially the contract itself if no deal can be reached with him. Hockenson currently has a $21.3 million salary cap hit for 2026 as part of his 2023 contract extension which had a $16.5 million average annual value (AAV) (2nd highest among TEs at the time) with $40.2 million guaranteed (highest among TEs at the time). Hockenson hasn’t performed up to his salary cap hit. It’s true that all Vikings’ receivers suffered down seasons last year due to poor quarterback play, but Hockenson really hasn’t been the same since returning from his ACL injury in mid-2024.
A good recent comparable for Hockenson’s market value was a deal just agreed today between Dalton Schultz and the Texans on a one-year, $12.6 million extension. That may give the Vikings more leverage in negotiations with Hockenson. In any case, if the Vikings don’t reach a deal with Hockenson and release him, that would result in cap savings of $8.8 million with a $12.47 million dead cap hit. My guess is that the Vikings are looking for at least a $5 million salary cut from Hockenson. Hockenson has another $2.3 million of his 2026 salary guaranteed after March 13th, so expect a transaction to be done before that. That could provide somewhere between $5 – $8.8 million of additional cap space for the Vikings. For now, let’s assume $5 million which would give the Vikings a cumulative total of $24 million.
Lastly, the Vikings have also reportedly approached Brian O’Neill about a contract extension. He is in the last year of his contract. O’Neill has been a great draft pick and has played up to his salary cap consistently since being extended as well. He turns 31 in September, so that is a consideration in any contract extension. His last contract had an $18.5 million AAV. There has been inflation since that deal was signed in 2021, but some of that may be offset by O’Neill’s age. Spotrac has his market value at $21.1 million AAV. In any case, if the Vikings negotiated a two-year extension for O’Neill and converted most of his 2026 base salary into a signing bonus as part of the deal, that would give the Vikings another $12 million in cap space this year, or a cumulative total of $36 million.
That’s just enough for the Vikings to be dangerous in free agency.
Who Might the Vikings Target?
Now just who they may pursue in free agency is another question. Kyler Murray would be a de minimus salary cap hit given the offset language in his contract means he won’t be paid more with whatever salary his new team provides, allowing him to take a veteran minimum contract and still make $36.8 million this season.
But in the above scenario, the Vikings would be down two starting defensive tackles, an edge rusher, a starting running back, and a starting center, so perhaps some salary cap could be directed towards those positions. But some of those holes could be filled in the draft as well, or with existing players ready to step up into bigger roles.
There is also some question now whether Harrison Smith will retire- rumor is he may return for another year depending on what the Vikings do at quarterback. And Jalen Nailor is also a free agent the Vikings may extend an offer to- although Nailor could be looking at least as much at opportunities to move up the depth chart elsewhere as compensation.
There was a rumor the Vikings may be one of five teams interested in Super Bowl MVP Kenneth Walker III, although somehow I doubt they’d win that bidding war, but you never know.
In any case, the Vikings could use their available cap space after all these transactions to either make some notable acquisitions and/or extend a couple key players currently on the roster.
Stay tuned.
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