Move 3m of Gilmores base salary into 1m cap hits for the next 3 years. Worst case you add a little actual dead money in 2021 because given the other hits they won't move on before that anyway.
Convert most of KVNs base into a signing bonus that gets spread over the final two years.
Convert half of Cannons base salary (4m) into a bonus that gets spread over the rest of his contract.
Extend Ghost. Trade Rowe.
There are enough ways if you ask me. And I purposefully avoided any of the WRs.
AFAIK, salary converted to signing bonus is spread out over the remaining years of the contract, including the current year. So ...
Moving $3M of Gilmore's 2018 salary nets $2.33M in 2018 savings
KVN nets ~$600k
Moving $2M of Cannon's salary nets $1.5M
Extending Ghost nets $1.1M
Trading Rowe and replacing him with a rookie nets $450k.
All excellent suggestions.
The cause for my concern (NOT panic), is that, if there's another significant injury (IR-worthy), at least one of those moves (or something similar) becomes an immediate necessity, or nearly so.
For example, if Hollister is sent to IR, he's still hitting the cap for his remaining 2018 salary (~$420k) if he's replaced with a
rookie, the rookie's salary hits the cap for an additional ~$370k, thus reducing current cap space to $880k.
Regardless which move is made, the player in question must agree to it, and the Pats will have pretty close to zero leverage in that situation.
No matter how one slices it, cap space is tight - really tight for this early in the season (with $9.4M already tied up on IR and NFI). The situation seems concern-worthy to me. And it's certainly not one in which trades for high-salary "solutions" is realistic.