The Las Vegas Raiders enter the 2026 offseason with a lot on their plate - starting with the search for a new head coach. But while the leadership question looms large, the front office has a golden opportunity in front of them: a mountain of cap space and a chance to reshape the roster in a big way.
**Let’s talk numbers first. ** According to Spotrac, the Raiders are projected to have $88.7 million in salary cap space heading into free agency.
That’s a healthy chunk of change for a team looking to rebound after a tough 2025 campaign that saw just two meaningful wins. And that number could grow - significantly.
If Las Vegas decides to move on from quarterback Geno Smith, they’d free up an additional $8 million in cap space. Yes, there’d be an $18.5 million dead cap hit attached, but the move feels inevitable at this point.
The writing's on the wall. Still, there’s a more creative - and potentially more lucrative - way to unlock even more financial flexibility without cutting a single player.
Enter contract restructures.
Two of the Raiders’ cornerstone players, edge rusher Maxx Crosby and left tackle Kolton Miller, are sitting on sizable deals. Crosby’s three-year, $106.5 million contract and Miller’s three-year, $66 million deal are both ripe for restructuring. According to Spotrac’s projections, if the Raiders were to restructure both contracts, they could free up a combined $38.9 million in cap space.
That would catapult the Raiders’ total cap room to a staggering $127.5 million. That’s not just flexibility - that’s a war chest.
Of course, restructures aren’t as simple as pressing a button. The team would likely need to tack on void years to spread out the cap hits, and both players would need to agree to the changes. But there’s a potential incentive here, especially for Crosby.
If Crosby were to agree to a restructure, it could make him a more attractive trade piece - should he or the team decide to go down that road. A reworked deal that lowers his base salary to the league minimum would make him affordable for nearly every team in the league, which could drive up his trade value. That’s not to say the Raiders should trade Crosby - he’s the heart of their defense - but it’s a scenario worth keeping in mind.
Even if only Crosby agrees to a restructure, the Raiders would still save $23.8 million against the cap. That alone would give them the most cap space in the league - and that’s before accounting for any moves involving Geno Smith.
**Let’s do the math. **
- Restructuring Crosby: +$23.8M
- Cutting Smith: +$8M
- Total: $32M in additional space
- Add that to the original $88.7M?
You’re looking at over $120 million to work with.
And if they find a trade partner for Smith instead of cutting him? That number climbs even higher - to $50.3 million in additional space when you factor in the full savings. That’s the kind of flexibility that can reshape a roster in one offseason.
But here’s the catch: Las Vegas can’t afford to whiff in free agency like they did last year. The bargain-bin approach didn’t yield much.
New general manager John Spytek has to be strategic, aggressive, and - above all - efficient. The Raiders will still build through the draft, but the cap space gives them a chance to plug holes with proven veterans and raise the floor of the roster quickly.
And let’s not forget: the team has to spend. The NFL’s cash spending floor ensures that teams can’t just sit on their cap room. So whether it’s bringing in a veteran quarterback, bolstering the offensive line, or adding defensive depth, the Raiders will be active.
The pieces are in place for a major offseason in Las Vegas. The coaching hire will set the tone, but what happens with Crosby, Miller, and Smith could define how aggressive the Raiders can be in free agency.
The money’s there. Now it’s about how - and where - they choose to spend it.