Gannon will likely retire

Updated: February 26, 2005, 11:58 AM ET
By John Clayton | ESPN.com

The Oakland Raiders made the first step in helping their cap situation by restructuring the contract of quarterback Rich Gannon, taking his $8 million salary to the NFL minimum.

Rich Gannon
Quarterback
Oakland Raiders
Profile
2004 SEASON STATISTICS
Att Comp PaTD RuTD Int Rat
68 41 3 0 2 86.9

Gannon probably will retire this summer because of neck problems. By helping the Raiders, he can stay on the active roster until June and then be released. His new base salary will be $765,000, saving the Raiders $7.35 million.

With that deal, the Raiders are now $10.9 million over the cap. Charles Woodson's signing of his $10.5 million franchise tender did limit some of the Raiders flexibility after March 2 when they'll put in the Randy Moss trade. Moss has a salary of $7.25 million. Unless they restructure his contract, the Raiders will have to be more than $7 million under to put in his salary.

The Raiders can save $8 million by releasing veterans such as Frank Middleton, defensive tackle John Parrella, Ron Stone and tight end Roland Williams. They can also restructure some contracts to get under the salary cap.

The biggest challenge is getting that additional $7 million to fit in the Moss contract.

John Clayton is a senior writer with ESPN.com.

John Clayton

NFL senior writer