Saints Restructuring of Michael Thomas’ Contract Could Signal the End of His Time in New Orleans

David Kaestle
Michael Thomas and the Saints could be parting ways soon.
Michael Thomas and the Saints could be parting ways soon. / Associated Press
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Michael Thomas was arguably the best receiver in the NFL just a couple short years ago. Now, following a series of injuries and some poor communication with the Saints, his time in New Orleans might be coming to an end.

On Saturday the Saints and Thomas agreed to a restructured contract that will pay just short of $1 million on a bonus. With this new agreement, it allows the Saints to cut Thomas within three days of the start of the 2023 league year (March 17, 2023) in order for his $32 million 2024 roster bonus to become fully guaranteed.

It opens up some flexibility for the Saints in 2023, but a ton in 2024, when that full $32 mil would then be free and clear of their cap.

If they release Thomas it will most likely be with a post-June 1 designation and he would carry a cap hit of $26 mil in 2023, but be entirely off the books in 2024, when the Saints are projected to have a lot more cap space and could really start to turn things around.

Thomas, if released, will instantly become a free agent and have the chance to sign with teams before other wideouts. Health seems to be the only concern for Thomas, who has still looked good for the most part on the field.

There is no guarantee the Saints will release him, but this definitely sounds like a move they'd make to preface that.

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David Kaestle is not a FanDuel employee. In addition to providing DFS gameplay advice, David also participates in DFS contests on FanDuel using his personal account, username davekaestle. While the strategies and player selections recommended in his articles are his personal views, he may deploy different strategies and player selections when entering contests with his personal account. The views expressed in their articles are the author's alone and do not necessarily reflect the views of FanDuel.

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