Philip Rivers restructured his contract, converting $5 million of his base contract into a signing bonus, according to Ian Rapoport ofNFL.com, free agent NFL writer Brian McIntyre first reported the restructuring. Rivers' restructure frees up cap space for the San Diego Chargers, but doesn't lower the $12 million the quarterback will earn this year. The Chargers now have $12.76 million in cap space, converting Rivers' base salary to a signing bonus frees up cap space in 2013, but will bump up the hit to the Chargers' cap over the remainder of the deal (through 2015). The most interesting part of this news is the timing of the restructuring, most restructuring is done in the offseason or during training camp, freeing up money to sign free agents or draft picks. A restructuring like this on the eve of the season may indicate the Chargers are making a roster move that requires cap space, given the Chargers injury situation and dearth of talent on both sides of the ball, it would not be surprising to learn their current roster is in flux. Source: The Redzone
