Contract restructured

Seattle and Lockett agreed Thursday to a contract restructure, converting $8.54 million of his base salary into a signing bonus, Field Yates of ESPN reports.

The Seahawks free up roughly $5.7 million in cap space with the transaction. Lockett is heading into his age-31 season with three more years on his deal, though Seattle has a potential 'out' after the 2023 campaign. The addition of rookie first-round pick Jaxon Smith-Njigba somewhat clouds Lockett's long-term future with the Seahawks, but the upcoming season he appears still fully entrenched alongside DK Metcalf as one of Geno Smith's top two receiving options. Lockett is coming off four consecutive 1,000-yard receiving seasons, and the presence of Smith-Njigba will only make it more difficult for opposing defense to account for him.