Looking Closer at the Saints' Cost for Acquiring Deshaun Watson

We learned Sunday that the Saints have sent over a trade offer to the Texans for Deshaun Watson. What types of considerations and compensation could that mean for New Orleans?

Author:
John Hendrix
Publish date:
Mar 14, 2022 8:00 AM EDT

The NFL news has been plentiful over the past week, and there's still many dominoes to fall. The Saints generated a good bit of buzz on Sunday after reportedly sending a trade offer to the Texans for Deshaun Watson. Now, New Orleans isn't the only team linked to the 26-year-old quarterback, as the Carolina Panthers are also hot in the mix. Naturally, they won't be alone in their chase for Watson.

Watson holds a lot of the cards here, as he has a no-trade clause and would need to waive it for any team that he desires to go to. He also wants to make visits to each team to ensure they fit. Let's take a look at some aspects that may or may not influence a decision for New Orleans.

Watson's Contract

He's currently under contract with the Texans through 2025, presumably becoming a free agent in 2026 when he turns 31. The biggest financial commitment is in 2022 because of the high base salary. New Orleans could end lowering it and moving that into future and/or voidable years.

If anything, there could be a major out going into 2024 for whatever team looks at him, assuming nothing is tweaked on his current deal. Here's a quick rundown of salary cap implications under his current deal.

2022 Cap Hit: $40.4 million ($35 million base + $5.4 million signing bonus)
2023 Cap Hit: $42.4 million ($20 million base + $5.4 million signing bonus + $17 million roster bonus)
2024 Cap Hit: $37.4 million ($32 million base + $5.4 million signing bonus)
2025 Cap Hit: $32 million ($32 million base)

QB Deshaun Watson — Dec 27, 2020; Houston, Texas, USA; Houston Texans quarterback Deshaun Watson (4) looks for an open receiver against the Cincinnati Bengals during the second quarter at NRG Stadium. Mandatory Credit: Troy Taormina-USA TODAY Sports

The Asking Price

Houston has reportedly asked for at least three first round picks and then some. That's a pretty steep price in itself, but we saw what happened with Russell Wilson going to Denver. That trade compensation to the Seahawks saw them gain two first-round picks, two second-round picks (one in 2023), a fifth-round pick, and three players. The Broncos did get a fourth rounder back.

FAMILIAR PARTNER: New Orleans has dealt with Houston in the past (see Bradley Roby and Mark Ingram). They already have a third rounder and conditional sixth-round pick in 2023 going to them for Roby, and then also have a 2024 seventh-round pick for Ingram.

THE REALITY: Trade compensation could mean the Saints wouldn't pick until late Day 2, and then those would be comp picks (which we still haven't got final word of what those are). Essentially, New Orleans would part ways with at least their 2022 (18th Overall), 2023, and 2024 first-round picks, which given how the team has drafted wouldn't exactly be all that terrible.

In essence, Russell Wilson's trade somewhat set the bar for acquiring a quarterback, and it feels like the Saints would have to give up their second-round pick for 2022 and then possibly a future one to tally up five very high picks. The crazy part is that that may still not be enough, depending on Houston's stance here.

Player Consideration

The Broncos sent Shelby Harris, Noah Fant, and Drew Lock along with the picks to the Seahawks. Houston is a team that could improve just about anywhere and everywhere, so that bodes well for New Orleans.

DEPTH CHART: The biggest area that the team has better depth than others lies in their pass rush. They just restructured Cam Jordan and Tanoh Kpassagnon, and also re-signed Carl Granderson to a two-year deal. Marcus Davenport enters his fifth-year option, while Payton Turner enters his second season.

A CONCERNING RUMOR: Ryan Ramczyk's name was reportedly floated out there, but that doesn't make much sense. The recent contract restructure is one reason, but more importantly is the fact that you're already not sure about keeping Terron Armstead. Trading your franchise right tackle would also not go over well.

POTENTIAL PLAYERS TO TRADE: It's honestly a guessing game here, but some that could make sense and be on the move would include David Onyemata, Cesar Ruiz, Calvin Throckmorton, Zack Baun, Payton Turner, Taysom Hill, Ian Book, James Hurst, Nick Vannett, Adam Trautman, Tony Jones Jr., Paulson Adebo, and Bradley Roby.

Now, that could obviously create some holes if the team were to part with some of those players, but what they gain certainly has tremendous upside. Roby going back to Houston doesn't seem totally likely, and then another that's been floated out there is C.J. Gardner-Johnson. It's hard to believe that New Orleans would trade their best ball of energy and nickel cornerback to get Watson.

Aug 9, 2019; New Orleans, LA, USA; New Orleans Saints general manager Mickey Loomis (left) talks with Minnesota Vikings general manager Rick Spielman before the game against the Minnesota Vikings at the Mercedes-Benz Superdome. Mandatory Credit: Chuck Cook-USA TODAY Sports

Fast Action Needed

The clock is ticking for the Saints, and this could get really bad for them without having a definitive answer going into free agency. Jameis Winston was said to be an option by GM Mickey Loomis, and there appeared to be mutual interest. New Orleans missing out on Watson and then running the risk of losing Winston to another suitor would be a disastrous worst-case scenario.

With each day that passes, things get increasingly complicated. The Saints are still working to get under the salary cap, and then they'll have to clear some room to get free agents. We'll hopefully get some answers sooner rather than later.