Yardbarker
x
Saints begin push to get under cap by restructuring defender's contract
New Orleans Saints safety Marcus Maye. Mark J. Rebilas-USA TODAY Sports

Saints begin push to get under salary cap by restructuring defender's contract

For salary cap nerds, one of the most exciting things about the offseason is seeing the various ways Saints general manager Mickey Loomis manages to take millions of dollars in debt and turn it into space for the team to work with in free agency.

The team started that process on Wednesday, lowering its 2023 salary cap total by restructuring safety Marcus Maye's contract, saving $4.9 million for the upcoming season.

The Saints need every bit of help they can get if they want to land free-agent QB Derek Carr, a player they've been connected to for the past couple of weeks. Per Oddschecker, the Saints have the second-best odds of landing Carr, behind the Panthers.

Considering Carolina is in the same division as New Orleans, the Saints may be even more aggressive in trying to land the veteran QB.

The Saints entered Wednesday with the lowest amount of cap space in the NFL but Maye's restructure moved New Orleans ahead of division rival Tampa Bay.

The team remains $55 million over the cap and will likely announce more restructures in the days to come. Per data from Over The Cap, the team would free up $69.9 million if it restructured the contracts of Cam Jordan, Marshon Lattimore, Ryan Ramcyk, Alvin Kamara, Taysom Hill, Demario Davis, Erik McCoy and Tyrann Mathieu.

The team could also save money by extending player contracts as well as making cuts.

Whether New Orleans lands Carr or not, the front office needs cap space to make improvements this offseason so that it can curb the franchise's downward trajectory.

Maye's restructured contract is just the start of Loomis's yearly ritual that's beginning to resemble a rote action blockbuster. In those films, we know the protagonist will save the day, even if the odds are stacked against them. The thrill lies in witnessing the escape.

Eric Smithling

Eric Smithling is a writer based in New Orleans, LA, whose byline also appears on Athlon Sports. He has been with Yardbarker since September 2022, primarily covering the NFL and college football, but also the NBA, WNBA, men’s and women’s college basketball, NHL, tennis and golf. He holds a film studies degree from the University of New Orleans

More must-reads:

Customize Your Newsletter

Yardbarker +

Get the latest news and rumors, customized to your favorite sports and teams. Emailed daily. Always free!