Saints Take Important First Step in Salvaging Disastrous Salary Cap Situation
On the heels of a disappointing 7-win season, the New Orleans Saints head into the offseason with a major salary cap issue. New Orleans is currently more than $50 million over the cap and must remedy the situation as soon as possible.
Fortunately, there are a number of methods for lowering cap space. Some of the best ones don't involve the release of talented players, but rather creative contract restructuring adjustments.
On Wednesday, the Saints took an important first step in salvaging their disastrous salary cap situation.
NFL insider Field Yates reported the Saints converted $6.07 million of Marcus Maye's contract into a 2023 signing bonus. The safety's new deal creates approximately $4.856 million in additional cap room.
Based on their current projection, the Saints would move from $52.5 million over the cap to just $47.7 million over. There's still a lot of work left for the franchise to do this offseason.
Players such as Cam Jordan ($25 million), Marshon Lattimore ($22 million) and Ryan Ramczyk ($21 million) hold massive control over New Orleans' salary cap issues.
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