The move clears about $4.8 million in cap space and also drops Byrd's cap number from $10.3 million to $5.5 million for next season.
Byrd only played in four games last season with his new team and was placed on season-ending injured reserve after tearing his lateral meniscus ligament in his knee. Saints head coach Sean Peyton says Byrd’s rehab is on schedule and should be cleared to participate in mini-camp.
The Saints also parted ways with veteran running back Pierre Thomas after eight seasons this week, and could save more than $2 million if he is designated as a post-June 1 release.
The Saints are more than $22 million over the salary cap entering next week’s start of free agency.
- Scooby Axson