The Saints once again found themselves to be over the cap, this time by only $76M. This is nothing compared to the $110M the team faced last year which resulted in the release of Emmanuel Sanders and Janoris Jenkins being the big names. This time around the team doesn’t have to cut anyone and can save up to $100M in cap space just from restructures putting them $24M under the cap.
Mickey magic and Khai Harley have begun the process of getting under the cap and man, they must be printing their own money or something.
It’s important to note that the Saints lose $16.8M in total dead money if they don’t re-sign Terron Armstead, Jameis Winston, or Tre’Quan Smith.
That being said here is the Saints cap tracker (this will be updated with every move made that helps the cap):
Current cap space: $29.9M
The Saints converted $14.5M of Michael Thomas’ compensation for 2022 into a signing bonus, saving $11M in cap space.
The Saints converted $18.2M of Ryan Ramczyk’s compensation into a signing bonus, saving $15M in cap space.
The Saints restructured Andrus Peat’s contract saving around $7.8M in cap space.
The Saints restructured Tanoh Kpassagnon and Cam Jordan’s contract saving $12.4M in cap space.
Alvin Kamara’s contract was restructured saving $8.4M in cap space.
The Saints restructured Marshon Lattimore’s contract saving $18M in cap space.
The Saints restructured Marcus Davenport’s contract to save $6.8M.
David Onyemata’s contract was restructured saving $5.97M.
James Hurst was restructured saving $1.04M.
The Saints extended Bradley Roby freeing up some cap space.
The Saints restructured the contracts of Taysom Hill, Demario Davis, Bradley Roby, Malcolm Jenkins saving roughly $27.2M.
Free Agent Re-signs
Albert Huggins – $895K
Juwan Johnson – $895K
Carl Granderson – $965K
Jalen Dalton – $895K
Deonte Harris – $3.9M
Shy Tuttle – $2.4M
Written by Kadin Janisch
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