The New Orleans Saints have restructured the contracts of two more of their players to create additional salary cap space. According to Ian Rapoport on Wednesday morning, the Saints have restructured the deals of guard Andrus Peat and safety Malcolm Jenkins.
These moves will create an additional $9.4 million in cap space, according to Rapoport's report. Peat’s agreement will open up $6 million on the salary cap, while the agreement with Jenkins will create $3.4 million.
Jenkins returned to New Orleans as a free agent last offseason after spending six years with the Philadelphia Eagles, signing a four-year deal worth $32 million dollars. He was originally a 1st round draft pick by the Saints in 2009, spending five years with New Orleans and contributing on the Super Bowl XLIV championship squad.
He started every game for the Saints in 2020 and played on 99% of the defensive snaps during the year. Jenkins finished second on the team in tackles, added 2.5 sacks, and tied for the team lead with 3 interceptions.
Peat joined the Saints as the 13th overall selection of the 1st round in the 2015 draft. He was moved inside to guard after struggling at tackle, where he played more consistently. Peat is inconsistent as a pass blocker and has missed 17 contests over the last three seasons with injuries.
He has still been voted to the last three Pro Bowls and is part of the NFL's most dominant offensive line. Peat signed a five-year contract worth $57.5 million dollars last offseason prior to entering free agency.
Jenkins and Peat join other New Orleans veterans Drew Brees, Cameron Jordan, David Onyemata, Demario Davis, and Wil Lutz in reworking their current deals to save the team salary cap space. The team has also re-signed running backs Ty Montgomery and Dwayne Washington and S J.T. Gray while applying the franchise tag to S Marcus Williams. NFL free agency officially begins on March 17th.