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Redskins Renegotiate Stephen Bowen's Contract(UPDATED)

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ESPN's John Keim reports that DE Stephen Bowen's contract has been renegotiated.

Geoff Burke-USA TODAY Sports

John Keim reports that the Redskins have renegotiated DE Stephen Bowen's deal.  Bowen is still recovering from microfracture surgery on his knee that ended his season last year.  He has not practiced with the team, and is currently on the Redskins' PUP list.  Gruden has been non-committal on his expected return date, but Bowen's stated goal was Week 1 of the regular season.

Many people expected the Redskins to cut Bowen this year if he was not healthy by a certain point, and that still could happen.  Keim did not specify if this is a straight pay cut, or some other cap manipulation.  Bowen's spot on the team is not guaranteed, and the Redskins would save a lot of money next year if he is cut this year.  Bruce Allen said this week that the team has under $2 million in cap space and they would need to make some moves before the final roster cuts.  This is one of those moves.

We will have more details as they come out.

Year Base Salary(Guaranteed) Bonuses Cap
Number
Dead Money & Cap Savings
2014 $4,400,000 $2,520,000 $0 $0 $0 $7,020,000 $5,040,000 $1,980,000
2015 $5,400,000 $2,520,000 $0 $0 $0 $8,020,000 $2,520,000 $5,500,000

Source: Over The Cap

[UPDATE: 8/18/14 1:20PM] Details on Bowen's contract restructure: