Saints Restructure Two Key Contracts to Free Up Big Chunk of Cap Space

The New Orleans Saints had a long road ahead of them this offseason to get under the league's salary cap for the 2021 season. New Orleans isn't there yet, but they continue to find ways to shed salary, inching closer to the cap.

Another day brought another chance to shed some money off of the books ahead of the 2021 campaign.

The #Saints gained even more cap space today, restructuring the contracts of LB Demario Davis and DE Cameron Jordan to create $13,443,750 of cap room, source said. Slowly, but surely...
— Ian Rapoport (@RapSheet) March 6, 2021

New Orleans Saints Cap Space 2021

The Saints have restructured the contracts of linebacker Demario Davis and EDGE Cameron Jordan. That move has helped free up an additional almost $14 million as they continue to clear salary.

New Orleans used restructuring earlier this offseason to reduce quarterback Drew Brees' cap hit this season, shaving off nearly $24 million by reverting his base salary to around the league minimum.

With their recent moves, the Saints are now projected at just under $44 million over the cap, assuming a cap of $185 million this year, per Spotrac. New Orleans still needs to find ways to clear its books, and they're still No. 32 among teams in projected space, but it's a major improvement after they were nearly $100 million over the cap entering this offseason.

There's sure to be more roster shakeups in the coming days as the team explores more avenues to shed money.

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