Odell Beckham Jr. to the Buccaneers? Analyzing the financial feasibility of a possible deal
After a week of speculation, Odell Beckham Jr. and the Cleveland Browns parted ways on Friday when general manager Andrew Berry announced that the receiver had been released.
Beckham Jr. is an ultra-talented receiver whose career has been marred by distractions. Since he was traded to the Cleveland Browns in 2019, he never managed to fulfill his potential, but that's not totally his fault, as he was never completely on the same page as quarterback Baker Mayfield.
Once the Browns finalize the reworked Odell Beckham Jr. contract, they will release him and he will go on waivers, where other teams will have the opportunity to claim him.
But the Browns and OBJ’s time together is coming to a rapid end.
With such a talented player available on the market now, teams will be scrambling to get Odell to bolster their playoff and title hopes. The Tampa Bay Buccaneers may look like a logical contender as so many stars have joined the team to get a ring alongside Tom Brady.
Would it be possible for the Buccaneers to sign him?
Odell Beckham Jr.'s financial cost
To start, it's important to note that, since the trade deadline has passed, released players are now subject to waivers. That means NFL teams can try to claim Odell by Monday, but they'd have to take his remaining base salary with the Cleveland Browns.
The Browns ate $7M of dead cap by converting Beckham Jr.'s base salary into a signing bonus. On one hand, dead caps are never good.
On the other hand, this makes him a more feasible option for non-contender teams. Case in point: the Browns released Beckham Jr., but they wanted to make sure he would not sign with a rival contender.
If Odell clears waivers by Monday, his veteran minimum cost as a free agent will be $597k for the remainder of the year.
Is it financially feasible for the Buccaneers to sign Odell Beckham Jr.?
It's no surprise to see the Buccaneers linked to Odell Beckham Jr. after his release. Since Brady joined Tampa Bay, every time a star player gets released or traded, the Buccaneers seem to be an option.
Since the Browns ate a lot of Beckham Jr.'s cap hit, basically every team has a financial chance to sign the receiver, and this includes the Buccaneers.
The Bucs don't have a lot of cap space available - just below $3M -, but Odell shouldn't cost more than $2M even if he clears waivers and becomes a free agent. This will be a midseason signing, and those are incredibly cheap, especially if he wants to sign with a contender and is looking for a championship more than money.
Teams will have until Monday to place a waiver claim on Odell Beckham Jr.
Here is the current waiver wire order: https://t.co/pA8RwAhG7K
Obviously, he has to clear waivers first. The Buccaneers are just the 24th team on the waiver order as of now, so it's going to be a long task for him to join Tampa Bay if they put in a waiver claim.