Buccaneers clear up cap space by restructuring contracts

The Tampa Bay Buccaneers have restructured the contracts of both guard Carl Nicks and wide receiver Vincent Jackson to free up some cap space for the 2013 season.

While it won’t affect the amount of money receiver Vincent Jackson and guard Carl Nicks are paid, both players have restructured their contracts, converting their sizable 2013 salaries into bonuses that will be counted toward 2012. That allows the Bucs to prorate the combined $25 million or so due to the players in 2013 over a period of several years.

The net result: The Bucs have more salary-cap space to work with next season. They reportedly have $98 million in cap dollars currently committed to deals in 2013, according to ESPN. The salary cap is projected to be in the neighborhood of $121 million.

The Bucs had a pretty good season under first-year head coach Greg Schiano, but they still have some areas where they’ll need to upgrade in the offseason.