2023 NFL free agency rumors: Vikings restructure Kirk Cousins’ contract, free up $16 million in cap space

The Minnesota Vikings are looking to free up cap space ahead of the new league year, and they have reportedly gained $16 million by restructuring the contract of quarterback Kirk Cousins, per The MMQB. Cousins was due a $20 million roster bonus, and Minnesota reportedly turned that into a signing bonus while adding two void years to the two already on the deal. 

Cousins has just one year remaining on his contract after signing a one-year, $35 million extension last offseason. It was reported last week that Cousins and the Vikings had engaged in extension talks to free up some cap space, but that no agreement was imminent. Now, it’s fair to wonder if this will be the last season Cousins spends in Minnesota. 

The 34-year-old earned his second-straight Pro Bowl bid in 2022 after going a career-best 13-4 as the starter under first-year head coach Kevin O’Connell. Cousins completed 65.9% of his passes for 4,547 yards, 29 touchdowns and 14 interceptions, and won his first NFC North title — but was defeated by Daniel Jones and the New York Giants on Super Wild Card Weekend. He helped star wideout Justin Jefferson win Offensive Player of the Year, as he led the league in both catches and receiving yards by recording 128 receptions for 1,809 yards and eight touchdowns. 

Cousins has signed a total of three contracts with the Vikings after coming over from the Washington Commanders in 2018. He currently ranks third on the Vikings all-time passing yards list (20,934 yards), third in touchdown passes (153) and third in wins (46).