What it Would Cost Cardinals to Release DeAndre Hopkins
The saga with Arizona Cardinals WR DeAndre Hopkins wasn't supposed to last this long.
It feels like just yesterday reports first emerged that the Cardinals wanted to trade Hopkins - but that was months ago, just days after the team finished their season with a 4-13 record.
Arizona eventually found replacements for their vacancies at head coach and general manager, yet the Cardinals still are in search of a trade partner for Hopkins - who is set to turn 31-years-old this year and commands a base salary of nearly $20 million. His cap hit in Arizona sits at $30.75 million, the second highest for any receiver in the league only behind Miami Dolphins WR Tyreek Hill.
The market for Hopkins initially was thought to be robust, as he showed he still has plenty of juice left to help a team shoot their offense to the next level.
Yet his age, inability to stay on the field and contract (though he is reportedly willing to restructure) on top of Arizona's asking price of a second-round pick and something else of value apparently leads teams around the league to believe Hopkins not only won't be traded for significant compensation, but rather he'll end up being released.
“Some teams think that Cardinals are going to cut him, they think the Cardinals will wind up cutting him.” SI's Albert Breer said. “His market is not great right now. There’s nobody who was willing to take on Hopkins’ contract and pay the Cardinals initial asking price.”
Are things that bad between Hopkins and the organization? A divorce was likely the best outcome for both sides thanks to Hopkins' desire to play for a winning team and Arizona obviously entering a rebuild.
However, the slim possibility of Hopkins remaining on the team for 2023 is apparently out the window: His exit is inevitable, whether by trade or release.
Getting at least some sort of compensation for their All-Pro receiver would be the smart thing to do, though some around the league believe their compensation wouldn't be much higher than what the Dallas Cowboys gave up for Brandin Cooks: A fifth and sixth-round pick.
If the Cardinals do indeed release him, here's the financial impact (all figures via Over The Cap)
Cut (Pre-June 1)
Dead money: $21.07 million
Cap savings: $8.91 million
Cut (Post-June 1)
Dead money: $10.53 million
Cap savings: $19.45 million
If the Cardinals are indeed intent on releasing Hopkins, the post June 1 designation is clearly the way to go in terms of dead money and savings against the cap.
The trade figures match the cuts in terms of financial outcomes:
Trade (Pre-June 1)
Dead money: $21.07 million
Cap savings: $8.9 million
Trade (Post-June 1)
Dead money: $10.53 million
Cap savings: $19.45 million
The Cardinals continue to search for a viable trade partner for Hopkins, and time is ticking if they're looking for something of value in the 2023 NFL Draft.
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