The salary cap gymnastics continue for the Saints, as they have made another contract move. The team has pushed a further $8M in cap hit down the road, this time via a restructure of left guard Andrus Peat‘s deal, according to ESPN’s Mike Triplett.
New Orleans entered this offseason a projected $74M over the cap, but it was widely expected that re-working a number of notable players’ deals would at least get them most of the way to compliance. So far, the team has done just that with Michael Thomas and Ryan Ramczyk.
As Triplett details, the Saints have converted $9.73M of Peat’s base salary into a roster bonus, which is fully guaranteed. They have also added two void years to the deal. As a result, the 28-year-old’s cap hit is now scheduled to jump to just under $18.4M for the 2023 and 2024 seasons. There will also be a cap charge of nearly $4M in 2025, the first void year of the restructured pact.
Peat, a first round pick in 2015, has been a mainstay on the Saints’ o-line throughout his career. He has seen snaps at both tackle spots, but has primarily been used as a left guard, a position he has been quite effective at. He signed a five-year, $57.5M deal to stay in New Orleans in March 2020. He rewarded the team for its investment by earning a third straight Pro Bowl appearance that season.
2021 didn’t go as well for Peat, as he was limited to six games due to a pectoral injury. Still, he figures to be part of the Saints’ long-term plans, so he was a logical choice for a re-worked deal. With more maneuvering still to be done, other cost-cutting moves are likely in New Orleans.
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