Saints restructure Marshon Lattimore’s deal to make room for their draft class
 

I didn't see this topic posted

The move converts the $10.2 million of Lattimore’s fifth-year option to a $990,000 base salary with the rest as a roster bonus with voidable years. It frees up $7.4 million in salary cap space.

The sides will continue to work on a long-term extension, according to Rapoport.


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Re: Saints restructure Marshon Lattimore’s deal to make room for their draft class
 

Saints have the upper hand in this one. With his case pending no one will be willing to give him top cb money

Re: Saints restructure Marshon Lattimore’s deal to make room for their draft class
 

Mickey makes money like a magic man,we broke we rich


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Re: Saints restructure Marshon Lattimore’s deal to make room for their draft class
 

Nothing magic about it. Salary always counts against the current year's cap. Bonus money is spread over the contract time, even if the years are voidable.

Loomis is the master of charging current money against the future cap increases credit card. The cap in 2022 is projected to be $26 million dollars more than the current cap. By setting 4 voidable years, Lattimore's cap number for 2021 drops to $3 million ($1 million salary + $9 million/5 ($1.8 million) for the bonus slice for 2021) from $10 million. The $7 million remaning will be charged against the cap next year. Or more likely, It'll be rolled into an extension for Lattimore. All this works for Lattimore as he gets $9 million now instead of having to wait for it to be paid out in game checks during the season.

The interesting part of the deal, as explained by Field Yates, is that the voidable years was set with 4 years and $120 million. While that's Monopoly money since the years are void, it's important because an restructure within a calendar year cannot include a salary increase. By setting a $30 million/year cap, which is 50% more than the current highest paid CB in the league, the Saints have set up to extend Lattimore with big dollars next year while moving his money around this year.

But in the end it's little difference than how lots of people handle their finances. If you have no current cash, a $26 million credit card, and the need to purchase something now (like signing draft picks), you just put that item on the credit card now and pay it off later when more cash comes in.

SFIAH

Re: Saints restructure Marshon Lattimore’s deal to make room for their draft class
 

Restructure then extend the man without paying too much. The wheels are beginning to move now. It's all down hill from here. :p