The Saints entered the offseason significantly over the cap, but they’re already starting to create some breathing room. According to ESPN’s Field Yates, the Saints created $26.217M in cap space by reworking the contracts of wideout Michael Thomas and offensive tackle Ryan Ramczyk.
Specifically, they converted $14.56M of Thomas’ 2022 compensation and $18.20M of Ramczyk‘s upcoming compensation into signing bonuses. The Saints entered the offseason a projected $74M over the cap, but they have the ability to open a significant chunk of money (with some estimates saying they could save $100M via restructures). In other words, this is surely just the beginning for New Orleans’ front office.
Thomas led the league in receptions in 2018 and ’19, but following a disappointing 2020 campaign, the veteran receiver missed the entire 2021 season. Despite Thomas upsetting Saints brass by delaying an offseason ankle surgery last year, he remains in the team’s 2022 plans. While this does not necessarily guarantee the veteran pass catcher will be with the Saints next season, the team could certainly use him following an underwhelming season from the team’s other non-Alvin Kamara pass catchers.
Ramczyk was a first-round pick by the Saints in 2017, and he’s started all 73 of his games through his first five years in the NFL. The Saints inked the lineman to a five-year, $96M deal (including $60M in guaranteed money) last offseason.
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