Saints and Michael Thomas in Negotiations for New Deal

After what appeared to be an imminent parting of ways, here's how and why Michael Thomas could remain with New Orleans.

Author:
Bob Rose
Publish date:
Mar 10, 2023 12:30 PM EST

In this story:

As first reported by Nick Underhill of NewOrleans.Football, WR Michael Thomas and the New Orleans Saints are making some progress toward a contract extension. Underhill points out that no new deal has been finalized.

If Thomas is to remain with the Saints, an agreement must be reached quickly.

Thomas is actually under contract with New Orleans through the 2024 season. He signed a five-year contract extension in 2019 worth approximately $100 million dollars. Thomas had an NFL-record 149 receptions for a league leading 1,725 yards in 2019. Since then, he's missed 40 of 50 regular season contests because of leg injuries.

New Orleans restructured Thomas' hefty contract in January. The restructure converted his salary to a $31.7 million bonus if he is still on the roster by March 17. He'd receive another $30 million if active for four games in 2023. Thomas agreed to the restructure to create some salary cap flexibility for the Saints and also received a signing bonus of over $900,000 for his cooperation.

Most believed that this move also opened the door for a parting of ways between the team and wideout. There was no way that the Saints were going to pay out that kind of money. Not for a player who's played in just 10 games over three seasons while dealing with their own cap issues.

Change of Heart?

Sep 18, 2022; New Orleans Saints wide receiver Michael Thomas (13) warms up before a game against the Tampa Bay Buccaneers. Mandatory Credit: Stephen Lew-USA TODAY Sports

So, why the recent reversal? The imminent release of Thomas has apparently stalled, according to Underhill and other reports. This might have something to do with the Saints signing free-agent QB Derek Carr, who agreed to a four-year deal worth $100 million in guarantees.

Immediately after that signing was announced, Thomas sent out two tweets professing his own excitement. Carr's brother, former NFL QB David Carr, has also said that Thomas played a role in recruiting Derek to New Orleans.

Carr already has some nice weapons with his new team. Wideout Chris Olave looks like an emerging star after a terrific rookie campaign. Rashid Shaheed, an undrafted rookie last year, is an explosive player that was a surprise contributor. Juwan Johnson had a breakout season at tight end.

One thing missing is a physical receiver that can dominate the intermediate areas of a defense. This need gets checked off in a big way if the 6'3" and 212-Lb. Thomas is healthy and with the team.

Doubting Thomas?

Sep 11, 2022; New Orleans Saints receiver Michael Thomas (13) catches a pass over Atlanta Falcons corner A.J. Terrell (24). Mandatory Credit: Brett Davis-USA TODAY Sports

Through his first four seasons, Thomas missed just one of his team's 69 games (including playoffs) because of injury. His production over that period is historic. He averaged over 117 receptions and 1,378 yards over those four years and was nearly unstoppable.

Thomas suffered a serious ankle injury in the 2020 season opener. He'd miss five games with the injury and was clearly hobbled upon his return. Despite those limitations, he still had 37 receptions for 421 yards in six games. This was essentially on one leg and playing with a backup quarterback (Taysom Hill) for five games.

After missing the entire 2021 campaign following ankle surgery, Thomas played in only three games last year before being lost to a foot injury. In those three contests, he caught 16 passes for 171 yards and three touchdowns, pulling in 72.7% of his targets.

It's clear that Thomas can still play at a high level. Obviously the biggest concern is his recent injury history. The good news is that last year's foot injury was on the opposite leg of the surgically repaired ankle. The bad news is that once lower leg injuries start happening to a receiver, it often has a deteriorating snowball effect.

Michael Thomas turned 30 earlier this month. Doubt him at your own risk. He's always played with an edge; a chip on his shoulder that enhances his already immense abilities.

A Mutual Fit?

Oct 6, 2019; New Orleans Saints receiver Michael Thomas (13) after a catch against the Tampa Bay Buccaneers. Mandatory Credit: Chuck Cook-USA TODAY

Thomas has been an unstoppable weapon in a timing-based passing attack. This is also the scheme that Saints offensive coordinator Pete Carmichael prefers to run and where QB Drew Brees thrived for 15 seasons. Derek Carr has a strong arm and can attack downfield, but is also an accurate passer who could operate well in this system.

The fit is clear between Michael Thomas and Derek Carr. There also seems to be interest between New Orleans and Thomas to continue their relationship.

For the Saints, keeping Thomas would take care of one priority, a physical target for Carr, on a lengthy list of team needs. A reworked contract would likely be an incentive-based deal, perhaps just for one year, that would save New Orleans valuable cap space and could set Thomas up for another big payday.

If it happens, the Saints would be giving their new quarterback a terrific trio of receivers. However, there is a small window if Michael Thomas and New Orleans are going to remain together.

The clock is ticking.