The winding road of the New Orleans Saints to get below the salary cap continues with another restructuring of the contract.
This time it’s the star receiver Michael Thomas.
NFL Network Insider Ian Rapoport reports that the Saints have restructured Thomas’ contract, which provides $ 8.7 million in salary cap space, according to sources informed of the situation.
Usually, simple contract restructures are not noticeable. This season, especially in New Orleans, is very different. The move is the latest, as the Saints, who at one point put about $ 60 million above the salary cap, were below the $ 182.5 million threshold before the start of the new league year on March 17th.
Thomas signed a five-year, $ 96-plus contract extension in 2019. He restructured it once last year to limit the space. The Saints returned there in 2021 to earn more space to get under the cap.
Trade rumors revolve last season over the star receiver, who played in just seven games, scoring 40 passes for 438 yards and no TDs, all career lows. The restructuring of the contract, which reduces his base salary to spread the money over the next seasons, which will increase his cap in the future, ensures that the 28-year-old team will stay at the club.
Even with the latest cuts and restructurings, the Saints remain above the $ 182.5 million salary cap, so restructuring Thomas is not the last step New Orleans will take before next Wednesday.
Other clubs are also restructuring players to limit their space.
Rapoport reported that linebackers Nick Kwiatkoski (who released $ 2.7 million) and linebacker Cory Littleton ($ 4.4 million) restructured the Las Vegas Raiders.
The Ravens, meanwhile, have restructured the contract from the corner of Marcus Peters, which freed up $ 3.5 million per capoport.