Earlier today, I presented a complete salary cap update for the Rams heading into Free Agency. The Rams were sitting at close to $6.7 million under the salary cap, with all costs for 2015 taken into consideration. The Rams' trade with Philadelphia (Nick Foles for Sam Bradford and draft pick considerations) significantly altered the teams' available salary cap space.
Rams-Eagles trade now official. Rams trade QB Sam Bradford and undisclosed draft-pick compensation to Philadelphia for Nick Foles.— Adam Schefter (@AdamSchefter) March 10, 2015
Eagles get Bradford, a 5th-round pick from St. L this year, in exchange for Foles, a 4th-rounder this year, & 2nd-ronder in 16.— Jim Thomas (@jthom1) March 10, 2015
<blockquote class="twitter-tweet" lang="en"><p>I know this is confusing, here's best way I can breakdown the Rams-Eagles trade. ... <a href="http://t.co/CJjxGSnk7v">pic.twitter.com/CJjxGSnk7v</a></p>— Nick Wagoner (@nwagoner) <a href="https://twitter.com/nwagoner/status/575436401405136899">March 10, 2015</a></blockquote> <script async src="//platform.twitter.com/widgets.js" charset="utf-8"></script>
Bradford's salary cap hit for 2015 with the Rams was scheduled to be $16.58 million ($12.985 in base salary and $3.595 million in a prorated bonus). As a result of the trade, the Rams gain $12.985 million in salary cap relief. The remaining $3.595 million is accounted for as dead money by the Rams. 2015 was the final year of Bradford's rookie contract with the Rams.
Foles is also in the final year of his contract. The Rams take on $1.542 million of Foles' contract as a salary cap hit for 2015.
The net gain in salary cap space for the Rams is $11.443 million. After the trade, the Rams have $18.17 million in salary cap space, with all costs for 2015 taken into consideration.
The Rams wasted little time in utilizing their available salary cap space. The Rams re-signed TE Lance Kendricks to a 4-year/$18.5 million contract. In addition, the Rams sent a 2016 7th round pick to the Houston Texans for QB Case Keenum.
In other news, from @caplannfl and I: Rams re-signing TE Lance Kendricks on a four year deal worth in neighborhood of $18.5 million.— Nick Wagoner (@nwagoner) March 10, 2015
There's the second "outside the building" QB to the Rams. Case Keenum back to St. Louis in exchange for a 7th-round pick in 2016.— Nick Wagoner (@nwagoner) March 10, 2015
I'll be updating the Rams' salary cap situation in more detail as the information becomes available.