It’s an annual tradition like no other: The restructure of Deshaun Watson’s five-year, $230 million fully guaranteed contract. The Cleveland Browns restructured Watson’s contract this week, and created $35.8 million in cap space, according to NFL Media. 

The Browns had the second-worst financial situation in the NFL entering Thursday, according to Over The Cap, as they were a projected $23,240,350 over the set number of $279.2 million. This move should get Cleveland back in the “green.”

Back in December, CBS Sports NFL insider Jonathan Jones reported that Watson and the Browns reached a contract agreement with their quarterback that lessened Watson’s cap charge in future years while keeping his fully guaranteed $92 million intact. The adjustment was technically an extension that added a new year to the existing contract with no new money, and was done with the goal of allowing the Browns to put together a competitive roster. It turned out that wasn’t the only financial move the Browns had to make with 2025 in mind. To make matters worse, Watson tore his Achilles in October, and then tore it again in January. He could potentially miss the entire 2025 season.

Since signing his $230 million fully guaranteed contract with Cleveland, Watson is 9-10 as the starter and has thrown 19 touchdowns compared to 12 interceptions. He was suspended for the first 11 games of the 2022 season, suffered a season-ending shoulder injury in 2023, a season-ending Achilles injury in 2024 and may have already suffered a season-ending Achilles injury in 2025. The former Houston Texan has registered zero 300-yard passing games in 19 starts for Cleveland, and last year registered the fewest yards per dropback by any quarterback since 2006.