Vernon was set to make $15.25 million, non-guaranteed, in 2020.
Now, Vernon gets $11 million guaranteed through a $7 million signing bonus, $3.75 million in base salary and a $250,000 workout bonus, according to Yates.
Vernon, 29, is also eligible for $2 million more in incentives.
NFL Network’s Tom Pelissero reported Vernon’s new deal also includes a no-tag clause (franchise or transition) to ensure he becomes a free agent in March 2021.
The Browns and DE Olivier Vernon have agreed to a renegotiated contract, per source. Vernon, previously due $15.25M non-guaranteed, gets $11M guaranteed through a $7M signing bonus, $3.75M base salary and a $250K workout bonus, plus $2M more available via incentives.
— Field Yates (@FieldYates) July 7, 2020
The #Browns and Olivier Vernon agreed to a restructured contract that fully guarantees him $11 million this year — including a $4M signing bonus and $6.75M salary — plus up to $2M in incentives and a no-tag clause that ensures he’s a free agent next March, per source.
— Tom Pelissero (@TomPelissero) July 7, 2020
There were reports earlier this offseason of the Browns’ interest in signing free agent defensive end Jadeveon Clowney.
“This deal seemingly signals the Browns are no longer pursuing Clowney or Everson Griffen and that Vernon will be their man opposite Myles Garrett for another season,” Sports Illustrated’s Pete Smith reported.
Clowney, 27, and Griffen, 32, remain free agents as of Tuesday morning.
However, OverTheCap.com showed the Browns had $37.27 million left in cap space before renegotiating Vernon’s deal.
It means the Browns still could add either Clowney or Griffen and keep Vernon.
At the same time, the Browns likely need to let some of the salary cap space roll over to next offseason to offer Garrett a contract extension.
Garrett, 24, is entering his fourth season in the league and is due to make $4.61 million this season.
The Browns already picked up Garrett’s fifth-year option in 2021, which is worth $15.18 million.
In the offseason, Pro Football Focus reporter Ben Linsey ranked Garrett and Vernon as the second-best edge defender duo in the NFL.
In 2019, Vernon played in 10 games, compiling 26 tackles, four tackles for a loss, 11 quarterback hits and a career-low 3.5 sacks.
Pro Football Focus graded Vernon as the Browns’ third-highest graded pass rusher.
Vernon missed three games after injuring his knee during a Week 9 loss to the Denver Broncos.
In Week 13 against the Pittsburgh Steelers, Vernon played only 10 snaps before missing three more games.
Vernon played in the regular-season finale against the Cincinnati Bengals.
Injuries forced Vernon to miss time during the last three seasons, playing in 11 games for the Giants in 2018 and 12 games in 2017.
However, Vernon did not miss a game during his first five seasons in the league from 2012-2016.
Headed into the 2020 season, Vernon is entering the final year of his contract after the Browns acquired him in a trade with the New York Giants.
“Olivier is a good football player, and we like having good football players on the roster,” Browns general manager Andrew Berry said in April. “He is a talented defensive end. He is here and will continue to be here.”
Browns head coach Kevin Stefanski echoed some of Berry’s sentiments on Vernon.
“Obviously, I think Olivier is a really great player,” Stefanski said. “Unfortunately, he was banged up a little bit. We look forward to all our guys contributing next year.”
On March 19, 2019, the Browns acquired Vernon and wide receiver Odell Beckham Jr. in exchange for Jabrill Peppers, Kevin Zeitler and the Browns’ first- and third-round picks in the 2019 NFL Draft.