Mitere, Los Angeles – New Orleans Saints moved more than $26 million in salary cap fees into future years by restructuring broad recipient contracts Michael Thomas and offensive tackle Ryan Ramsicka source told ESPN’s Field Yates on Saturday.
Expect more such moves in the coming days, as New Orleans begins laying around $75 million above the projected 2022 salary cap of $208.2 million per team — the highest for any team in the NFL.
Thomas’ restructuring is particularly noteworthy as it further indicates that New Orleans has no plans to trade in its star receiver. The Saints turned $14.6 million in Thomas’s scheduled salaries and slate bonuses into a signing bonus, meaning they could spread out the cap fees over the next five years. However, it also means that they will be in trouble for all those charges against the cap this year if they trade Thomas.
Similarly, New Orleans turned $18.2 million in Ramczyk’s scheduled salaries and roster bonuses into a signing bonus.
The good news for the Saints is that they have room to move over $100 million in salary cap costs into future years without laying off any existing players if they don’t want to. They will obviously have to deal with those charges in future seasons. But this has been a common Saint practice for the past decade under General Manager Mickey Loomis and Vice President of the Football Department Khay Harley — and it has become more common across the league after the COVID-19 pandemic lowered the NFL’s cap by nearly $16 million. for each team in 2021.
Loomis has made it clear in this that the Saints have no intention of rebuilding their roster despite Sean Payton’s decision to walk away from coaching. The Saints say they can contend for the NFC South title under new coach Dennis Allen, who has retained Pete Carmichael Jr. as his offensive coordinator and Ryan Nielsen and Chris Richard as his joint defense coordinators.
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