Saints can Adjust Contracts to Increase Cap Space for 2020
The New Orleans Saints can adjust contracts to increase cap space for 2020.
On January 11th, the Saints converted $9.5M of Cam Jordan’s salary. The conversion helps to increase the cap room for the Saints in the amount of $7.5M. Expect more moves by New Orleans before the NFL free agency period officially begins on March 18th. Yet, NFL teams may contact the agents of NFL free agents on March 16th to begin contract negotiations. First, the Saints will test their cap space they will need to take advantage of free agency.
WHY MORE SPACE IS NECESSARY FOR NEW ORLEANS
The Saints have 27 free agents. They need to decide if they can re-sign free-agent veterans and starters or pursue other NFL talent. Here are the question for the Saints:
Will New Orleans be ready to make a splash? Which positions are critical for the Saints to have a veteran presence? Also, which players could be targets for the Head Coach Sean Payton and GM Mickey Loomis to recruit?
Kim Klement-USA TODAY Sports
Saints Top 5 Salary Cap Hits in 2020
- Terron Armstead - LT; $15.97M CAP HIT- Armstead's projected 2020 compensation is $10.7M (base) with bonuses of $2.2M (signing) + $2M (restructured) + $968,750 (roster) + $100K (workout)
- Drew Brees - QB; $21.3M CAP HIT - This hit is from Brees' 2020-2022 void years.
- Michael Thomas - WR; $15M CAP HIT - $11M (base) and $4M (signing). Thomas signed his mega-deal last offseason. His contract could be restructured to free money for the team.
- Larry Warford - OG; $12.9M CAP HIT - $7.65M (base) with bonuses of $2.1M (signing) + $750K + $100K (workout) + $2.27M (restructured)
- Janoris Jackson - CB; $11.25M CAP HIT - $10.15M (base) with bonuses of $1.0M (roster) + $100K (workout)
*Salary Cap Numbers from SPOTRAC
Saints: Three Saints have contract years void. Quarterback Drew Brees' 2020 through 2022 contract years void, and there will be a $21.3 million cap charge for the Saints because of the bonus proration from these contract years. Quarterback Teddy Bridgewater's 2020 and 2021 contract years void, which frees up $18 million of cap space for the Saints. Linebacker A.J. Klein's 2020 contract year voids, and the Saints will have a $1 million cap charge associated with Klein's 2020 signing bonus proration. These players will be unrestricted free agents when the 2020 league year starts. Joel Corry - CBS Sports - click to read Joel's article
Derick Hingle-USA TODAY Sports
Top 10 Saints' Contract Values and Expiration Dates
- Michael Thomas - WR , 5 yr -$96,250,000; ends 2025
- Terron Armstead - LT, 5 yr - $65,000,000; ends 2022
- Janoris Jenkins - CB, 5 yr - $62,500,000; ends 2021
- Cameron Jordan - DE, 3 yr - $52,500,00; ends 2024
- Larry Warford - G, 4 yr - $34,000,000; ends 2021 **
- Kiko Alonso - OLB, 4 yr - $28,910,000; ends 2021 **
- Demario Davis - OLB, 3 yr - $24,000,000; ends 2021 **
- Nick Easton - G, 4 yr - $22,500,000; ends 2023
- Wil Lutz - K, 5 yr - $20,250,000; ends 2024
- Patrick Robinson - CB, 4 yr - $20,000,000; ends 2022
*Salary Values from SPOTRAC; ** Final year of contract
Our John Hendrix wrote on Larry Warford for his Salary Cap Hits article:
Warford enters the final year of his contract in New Orleans after coming over from the Detroit Lions in 2017. He's currently 6.4 percent of the 2020 cap for the Saints, and they'd still be on the hook for $4.375 million in bonuses if they felt compelled to move on. Warford will turn 29 in June, and has been playing at a high level for New Orleans. He also has a $750,000 roster bonus owed to him on the third day of the new league year. John Hendrix - Saints News Network
After an analysis of the current contracts, it would be for Thomas, Armstead, Jenkins, Easton, Lutz, and Robinson to be candidates for restructuring. Aforementioned, Cam Jordan has already restructured his contract with the Saints. SNN will pay close attention within the next several weeks on how the Saints handle their cap space ahead of free agency.
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