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Jason Smith Contract: Rams OT Takes Pay Cut

The St. Louis Rams selected Baylor offensive tackle Jason Smith with the No. 2 overall pick in the 2009 NFL Draft, and the decision hasn't worked out for the team so far. Smith has fought concussion problems through his career and ended last season on injured reserve. Under the previous CBA, top five draft picks earned big money, and Smith's lack of production and original five-year, $54 million contract was hurting the Rams financially.

Related: NFL Mock Draft 2012: Justin Blackmon And Good And Bad Possession Receivers

On Saturday, it was reported Smith will massively restructure his rookie contract.

Under the restructure, Smith's base salary in 2012 has been reduced to a fully guaranteed $4 million and he will also receive a $500,000 roster bonus, a pay cut of $5.5 million for this season. The 2014 season season has been deleted, so the $3.2675 million in option bonus proration has been accelerated onto the Rams' 2012 cap.

Despite that acceleration, Smith's 2012 cap number will go from $13.2675 million to $11.035 million, a reduction of $2.2325 million.

Stay tuned to SB Nation St. Louis for more information, and for in-depth analysis on the St. Louis Rams be sure to visit Turf Show Times. Visit SB Nation NFL for more news and notes around the league.