Extend or trade? Saints face critical choices now with trio of 2022 free agents

K Major · 02-23-2021, 01:08 PM

Originally Posted by The Dude

Keep Lattimore, you want to keep somebody strong a new coach can build around. HAVE to keep Rami, it’s a no brainer. Love Armstead and he’s a great player but injury concerns make him a liability given our cap situation.
Try to keep Williams too but you can’t have it all.

I'd be more inclined to move tumbleweed PEAT before Armstead.

AP has been just as injury prone as TA and not nearly as dominant.

But hey, that's just me.

gosaints1 · 02-23-2021, 01:22 PM

Originally Posted by K Major

I'd be more inclined to move tumbleweed PEAT before Armstead.

AP has been just as injury prone as TA and not nearly as dominant.

But hey, that's just me.

Agreed, but the Peat contract makes moving/cutting him cost prohibitive. His 2021 cap hit is $11.6M. A pre 6/1 move would accelerate $7.8M on top of that leaving us with dead money in the amount of $19.4M. A post 6/1 cap doesn’t accelerate any money, but gives us $0.00 in cap savings.

Bad, bad contract for an oft-injured guy. I would like to move on from Peat also, and yes, well before any of the other three were discussing. I just don’t know how it can be done.

K Major · 02-23-2021, 01:29 PM

Originally Posted by gosaints1

Agreed, but the Peat contract makes moving/cutting him cost prohibitive. His 2021 cap hit is $11.6M. A pre 6/1 move would accelerate $7.8M on top of that leaving us with dead money in the amount of $19.4M. A post 6/1 cap doesn’t accelerate any money, but gives us $0.00 in cap savings.

Bad, bad contract for an oft-injured guy. I would like to move on from Peat also, and yes, well before any of the other three were discussing. I just don’t know how it can be done.

Restructure is in order for tumbleweed Peat.

I hated the new contract from the start.

lee909 · 02-23-2021, 05:04 PM

Originally Posted by K Major

I'd be more inclined to move tumbleweed PEAT before Armstead.

AP has been just as injury prone as TA and not nearly as dominant.

But hey, that's just me.

Yeah but we are tied to Peat due to that contract, especially as its likely they'll restructure his deal this year.

The Dude · 02-23-2021, 08:53 PM

Originally Posted by K Major

I'd be more inclined to move tumbleweed PEAT before Armstead.

AP has been just as injury prone as TA and not nearly as dominant.

But hey, that's just me.

Would love to move Peat but from what I’ve read the cap hit wouldn’t be worth it. I could be wrong. I would definitely move Peat over Armstead if possible.
Edit: sorry I didn’t see above posts.

K Major · 03-03-2021, 10:46 AM

Originally Posted by The Dude

Would love to move Peat but from what I’ve read the cap hit wouldn’t be worth it. I could be wrong. I would definitely move Peat over Armstead if possible.
Edit: sorry I didn’t see above posts.

Yes, you are right on the cap hit with tumbleweed.

Was never a fan of the pick or the new deal he received.

AsylumGuido · 03-03-2021, 11:18 AM

David Onyemata agrees to restructured contract, creating cap space

There goes another domino: NFL Network’s Ian Rapoport reports that the New Orleans Saints have agreed to a contract restructure with defensive tackle David Onyemata, which creates $4.34 million in salary cap space for 2021. It’s not a lot, but it’s another important step towards cap compliance ahead of free agency later in March.

It’s important to note that this is not a pay cut — Onyemata is getting his money now while raising his future cap hits, giving him some more job security. The Athletic’s Katherine Terrell did a great job explaining the mechanics of this move. Onyemata converted $4.34 million of his $7 million salary into a signing bonus, taking it off of the books for 2021 and pushing it into the future.

That raises his cap hits by $2.17 million in 2022 (now up to $13.17 million) and 2023 (which automatically voids, but will leave $4.67 million in dead money). The Saints can get ahead of that dead money hit in 2023 with another contract extension, which feels likely to happen next offseason to lower his 2022 cap hit if Onyemata continues to play at a high level. He can earn another nice payday by stepping up should the Saints lose free agent Sheldon Rankins and cut or trade Malcom Brown over the next few weeks.

SaintFanInATLHELL · 03-03-2021, 11:58 AM

Originally Posted by The Dude

Would love to move Peat but from what I’ve read the cap hit wouldn’t be worth it. I could be wrong. I would definitely move Peat over Armstead if possible.
Edit: sorry I didn’t see above posts.

Originally Posted by K Major

Yes, you are right on the cap hit with tumbleweed.

Was never a fan of the pick or the new deal he received.

There is a way to structure the cap hit so it isn't too bad. The Saints owe the cap $10.4 million for Peat's signing bonus. Also Peat has a guaranteed 2021 salary of $9 million. On paper if the Saints released him after the 3rd day of the league year, that would be a $19.4 million cap hit.

But if he's traded, the $9 million becomes the trade partners problem as it's base salary. And with a post June 1 trade, the remaining $10.4 million can be split between 2021 and 2022 cap.

So, in theory the Saints could save up to $6 million on the 2021 cap with a post June 1 trade but still be on the hook for $5 million more in 2022.

Of course there's the issue of filling the space vacated by Peat.

SFIAH

02-23-2021, 01:08 PM	#1
K Major Site Donor 2019 Join Date: Jan 2013 Location: Bedford, TX Posts: 24,738 Blog Entries: 3	Re: Extend or trade? Saints face critical choices now with trio of 2022 free agents Originally Posted by The Dude Keep Lattimore, you want to keep somebody strong a new coach can build around. HAVE to keep Rami, it’s a no brainer. Love Armstead and he’s a great player but injury concerns make him a liability given our cap situation. Try to keep Williams too but you can’t have it all. I'd be more inclined to move tumbleweed PEAT before Armstead. AP has been just as injury prone as TA and not nearly as dominant. But hey, that's just me. jnormand and Lord_Saint83 like this.

02-23-2021, 01:22 PM	#2
gosaints1 500th Post Join Date: Mar 2012 Posts: 576	Re: Extend or trade? Saints face critical choices now with trio of 2022 free agents Originally Posted by K Major I'd be more inclined to move tumbleweed PEAT before Armstead. AP has been just as injury prone as TA and not nearly as dominant. But hey, that's just me. Agreed, but the Peat contract makes moving/cutting him cost prohibitive. His 2021 cap hit is $11.6M. A pre 6/1 move would accelerate $7.8M on top of that leaving us with dead money in the amount of $19.4M. A post 6/1 cap doesn’t accelerate any money, but gives us $0.00 in cap savings. Bad, bad contract for an oft-injured guy. I would like to move on from Peat also, and yes, well before any of the other three were discussing. I just don’t know how it can be done. Boston Saint likes this.
gosaints1 500th Post Join Date: Mar 2012 Posts: 576

02-23-2021, 01:29 PM	#3
K Major Site Donor 2019 Join Date: Jan 2013 Location: Bedford, TX Posts: 24,738 Blog Entries: 3	Re: Extend or trade? Saints face critical choices now with trio of 2022 free agents Originally Posted by gosaints1 Agreed, but the Peat contract makes moving/cutting him cost prohibitive. His 2021 cap hit is $11.6M. A pre 6/1 move would accelerate $7.8M on top of that leaving us with dead money in the amount of $19.4M. A post 6/1 cap doesn’t accelerate any money, but gives us $0.00 in cap savings. Bad, bad contract for an oft-injured guy. I would like to move on from Peat also, and yes, well before any of the other three were discussing. I just don’t know how it can be done. Restructure is in order for tumbleweed Peat. I hated the new contract from the start. SmashMouth, gosaints1 and Lord_Saint83 like this.

02-23-2021, 05:04 PM	#4
lee909 5000 POSTS! + Join Date: Mar 2012 Location: Watford England Posts: 8,855 Blog Entries: 1	Re: Extend or trade? Saints face critical choices now with trio of 2022 free agents Originally Posted by K Major I'd be more inclined to move tumbleweed PEAT before Armstead. AP has been just as injury prone as TA and not nearly as dominant. But hey, that's just me. Yeah but we are tied to Peat due to that contract, especially as its likely they'll restructure his deal this year.

02-23-2021, 08:53 PM	#5
The Dude 5000 POSTS! + Join Date: Jul 2011 Posts: 9,055	Re: Extend or trade? Saints face critical choices now with trio of 2022 free agents Originally Posted by K Major I'd be more inclined to move tumbleweed PEAT before Armstead. AP has been just as injury prone as TA and not nearly as dominant. But hey, that's just me. Would love to move Peat but from what I’ve read the cap hit wouldn’t be worth it. I could be wrong. I would definitely move Peat over Armstead if possible. Edit: sorry I didn’t see above posts. K Major likes this.
The Dude 5000 POSTS! + Join Date: Jul 2011 Posts: 9,055

03-03-2021, 10:46 AM	#6
K Major Site Donor 2019 Join Date: Jan 2013 Location: Bedford, TX Posts: 24,738 Blog Entries: 3	Re: Extend or trade? Saints face critical choices now with trio of 2022 free agents Originally Posted by The Dude Would love to move Peat but from what I’ve read the cap hit wouldn’t be worth it. I could be wrong. I would definitely move Peat over Armstead if possible. Edit: sorry I didn’t see above posts. Yes, you are right on the cap hit with tumbleweed. Was never a fan of the pick or the new deal he received.

03-03-2021, 11:18 AM	#7
AsylumGuido 10000 POST CLUB Join Date: Sep 2007 Location: Bossier City, LA Posts: 26,472	Re: Extend or trade? Saints face critical choices now with trio of 2022 free agents David Onyemata agrees to restructured contract, creating cap space There goes another domino: NFL Network’s Ian Rapoport reports that the New Orleans Saints have agreed to a contract restructure with defensive tackle David Onyemata, which creates $4.34 million in salary cap space for 2021. It’s not a lot, but it’s another important step towards cap compliance ahead of free agency later in March. It’s important to note that this is not a pay cut — Onyemata is getting his money now while raising his future cap hits, giving him some more job security. The Athletic’s Katherine Terrell did a great job explaining the mechanics of this move. Onyemata converted $4.34 million of his $7 million salary into a signing bonus, taking it off of the books for 2021 and pushing it into the future. That raises his cap hits by $2.17 million in 2022 (now up to $13.17 million) and 2023 (which automatically voids, but will leave $4.67 million in dead money). The Saints can get ahead of that dead money hit in 2023 with another contract extension, which feels likely to happen next offseason to lower his 2022 cap hit if Onyemata continues to play at a high level. He can earn another nice payday by stepping up should the Saints lose free agent Sheldon Rankins and cut or trade Malcom Brown over the next few weeks.
	“The pessimist sees difficulty in every opportunity. The optimist sees the opportunity in every difficulty.” — Winston Churchill

03-03-2021, 11:58 AM	#8
SaintFanInATLHELL The Professor Join Date: Oct 2003 Location: Lithonia, GA Posts: 2,781	Re: Extend or trade? Saints face critical choices now with trio of 2022 free agents Originally Posted by The Dude Would love to move Peat but from what I’ve read the cap hit wouldn’t be worth it. I could be wrong. I would definitely move Peat over Armstead if possible. Edit: sorry I didn’t see above posts. Originally Posted by K Major Yes, you are right on the cap hit with tumbleweed. Was never a fan of the pick or the new deal he received. There is a way to structure the cap hit so it isn't too bad. The Saints owe the cap $10.4 million for Peat's signing bonus. Also Peat has a guaranteed 2021 salary of $9 million. On paper if the Saints released him after the 3rd day of the league year, that would be a $19.4 million cap hit. But if he's traded, the $9 million becomes the trade partners problem as it's base salary. And with a post June 1 trade, the remaining $10.4 million can be split between 2021 and 2022 cap. So, in theory the Saints could save up to $6 million on the 2021 cap with a post June 1 trade but still be on the hook for $5 million more in 2022. Of course there's the issue of filling the space vacated by Peat. SFIAH K Major likes this.
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