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Re: Saints 2022 Cap Restructure Potential
The following is my spreadsheet with the most likely player restructures. It includes the base salaries and bonuses that can be freely restructured without any approval of the player. The final column states the type of simple restructure available for that player. I have included Bradley Roby in the listing because even though he has no restructure savings available he can be released with an immediate cap savings of his base salary and roster bonus.
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Here's a listing of the restructures from last year when we were in excess of $100 million over the cap. This year ought to be a piece of cake. LOL! The first two on the list, the most recent, cleared space for later moves.
SEP 21 2021 Tre'quan Smith, WR Converted $1.19M of 2021 salary into bonus, clearing $954,433 of cap space with New Orleans (NO) JUN 8 2021 Marshon Lattimore, CB Converted $9.254 million of 2021 salary into bonus clearing $7.4M of cap space with New Orleans (NO) MAR 17 2021 Terron Armstead, LT Converted $10.075M of 2021 salary into bonus, clearing $6.7M of cap space with New Orleans (NO) MAR 14 2021 Taysom Hill, QB Signed a 1 year $12.159 million restructured contract with New Orleans (NO) MAR 12 2021 Michael Thomas, WR Converted $11.61M of 2021 salary into bonus, clearing $8.7M of cap space with New Orleans (NO) MAR 10 2021 Andrus Peat, G Converted $8.01M of 2021 salary into bonus, clearing $6M of cap space with New Orleans (NO) MAR 10 2021 Malcolm Jenkins, FS Converted $5.125M of 2021 salary into bonus, clearing $3.416M of cap space with New Orleans (NO) MAR 6 2021 Demario Davis, OLB Converted $5.225M of 2021 salary/bonus into signing bonus, clearing $3.91M of cap space with New Orleans (NO) MAR 6 2021 Cameron Jordan, DE Converted $12.725M of 2021 salary/bonus into signing bonus, clearing $9.54M of space with New Orleans (NO) MAR 4 2021 Wil Lutz, K Converted $2.61M of 2021 salary & roster bonus into signing bonus, clearing $1.74M of cap space MAR 3 2021 David Onyemata, DT Converted $6.51M of 2021 salary & bonus into signing bonus, clearing $4.34M of cap space with New Orleans (NO) FEB 5 2021 Drew Brees, QB Reduced his 2021 salary from $25M to $1.075M for release purposes, clearing $23.925M of cap space with New Orleans (NO) |
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The restructures have begun!
JOHN HENDRIX 17 MINUTES AGO Mickey Loomis and Khai Harley are going to work to get the Saints under the salary cap. We hear about how this is such a daunting task every year, but the New Orleans front office gets it done. According to ESPN's Field Yates, the team has freed up $26.2 million in cap space with the contracts of Michael Thomas and Ryan Ramczyk. Source: the Saints’ cap moves are underway, as they’ve converted $14.565M of Michael Thomas’ compensation for 2022 and $18,206,608 of OT Ryan Ramczyk’s compensation for 2022 into signing bonuses, creating $26.217M in cap space. Things were a lot more straightforward entering this offseason, as the team isn't faced with a situation like COVID where they had to slash, trim and cut people to get under. Restructures will be a common theme as we build up to the new season. This means Michael Thomas is playing with the Saints in 2022, and that's hardly a shock. Many talking heads thought the Saints would move on from him, but everything we heard about the situation from last season was resolved and things are great between him and the Saints. Thomas is ready to play, and the move to convert his compensation further echoes that. If the team were to move on from him at any point now, they'd have to eat that $14.565 million this season plus some. The new league year is set for March 16, and New Orleans has a good bit of work ahead. However, this is a huge move to slash just over 34 percent of their deficit. |
Re: Saints 2022 Cap Restructure Potential
To summarize ...
WR Michael Thomas - converted $14.565 million OT Ryan Ramczyk - converted $18.206608 million Total Cap Space added - $26.217 million after conversion As the article states, that's over one third of the total deficit recovered after only two moves. This also means that Michael Thomas isn't going anywhere! |
Re: Saints 2022 Cap Restructure Potential
Final details of the first of many 2022 restructures finally posted to spotrac.
FEB 26 2022 Ryan Ramczyk, RT Converted $9.465M of 2022 base salary & an $8.74M roster bonus into signing bonus, clearing $14.5M of cap space with New Orleans (NO) FEB 26 2022 Michael Thomas, WR Converted $14.3M of 2022 base salary & a $250,000 roster bonus into signing bonus, adding two void years, clearing $11.6M of cap space with New Orleans (NO) |
Re: Saints 2022 Cap Restructure Potential
Saints would probably be in better shape without the ridiculous Tumbleweed Peat & Hill contracts.
I expect Marcus Williams to get tag #2. Unless of course Dennis feels MW is already playing at his ceiling & can find a "cheaper", more talented FS elsewhere. |
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Moving Peat would only save about $1.5M against the 2022 cap. However, they can free about $7.2M by doing a simple restructure on his $10.85M base salary. |
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Since most of Hills big contract is in bonuses what are the cap implications if we cut/trade him?
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PRE-6/1 RELEASE 2022 Dead Cap: $19,000,000 2022 Cap Savings: $-6,675,000 PRE-6/1 TRADE 2022 Dead Cap: $8,900,000 2022 Cap Savings: $3,425,000 POST-6/1 RELEASE 2022 Dead Cap: $12,325,000 2023 Dead Cap: $6,675,000 2022 Cap Savings: $0 POST-6/1 TRADE 2022 Dead Cap: $2,225,000 2023 Dead Cap: $6,675,000 2022 Cap Savings: $10,100,000 |
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Andrus Peat is the next restructure!
This creates an additional $7.8 million. No other details yet. |
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Bradley Roby … ✌️.
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Lattimore and Hill are the most likely coming next. Kamara and Roby possible, too. Although Roby saves just as much cap by being released.
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Another day in Loomisville!
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But who would want him? Especially with that contract. |
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They seem to have a hard on for the Saints with the hiring of Fontenot and now Pace. |
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I meant more along the lines of the injuries he has sustained. That concussion and that lisfranc injury might scare some teams coupled with his contract |
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Not sure if this popped on another thread, but Thomas and Ramczyk have been restructured, freeing up $26.2 million in space. Loomis continues his shell game with cap $....
https://profootballtalk.nbcsports.co...-ryan-ramczyk/ |
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MAR 1 2022 Andrus Peat, G Converted $9.73M of 2022 base salary into signing bonus, adding two void years, clearing $7.7M of cap space with New Orleans (NO) FEB 26 2022 Ryan Ramczyk, RT Converted $9.465M of 2022 base salary & an $8.74M roster bonus into signing bonus, clearing $14.5M of cap space with New Orleans (NO) FEB 26 2022 Michael Thomas, WR Converted $14.3M of 2022 base salary & a $250,000 roster bonus into signing bonus, adding two void years, clearing $11.6M of cap space with New Orleans |
Re: Saints 2022 Cap Restructure Potential
Does anyone else have a problem with this? It seems like we are caught in an endless cycle of restructure to remain competitive/ relevant. Or am I missing something?
Looks like we're stuck with robbing Peter to pay Paul. The thing some people fail to recognize is that sooner or later, you'll end up with a sore Peter! ;) |
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:banana: Now, here comes speedo to remind us all of his BA... 3, 2, 1... |
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https://www.spotrac.com/nfl/cba/ Each and every year the cap has grown, with one single exception due to a global pandemic. The Saints are not robbing Peter to pay Paul. The Saints are using future growth to fund the present. And as long as that future growth occurs, there will be funds to keep it going. Where the system falls down a bit is when a player caught up in "kick the can" finally leaves the organization. Their dead money comes due for a 1 or 2 year period where they count against the cap, but are not actually playing for the team. Brees is a perfect example of this. Even in 2022, his dead money is $11.5 million which counts against the cap. It's a vampire drain on resources. But considering the alternative is to let players go into free agency, it's a strategy that is generally sustainable. It both facilitates the Saints keeping the productive players they need, and to offer flexible enough funding that they can continue to fill the holes that they have. SFIAH |
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The Saints structure the contracts with heavy base salaries and annual roster bonuses that can be automatically converted and prorated as needed. More and more franchises are starting to use the same method due to the continued success of the Saints. |
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Let me try restating this ... the Saints' Mickey Loomis and Khai Harley are not restructuring player contracts because they HAVE to restructure them. They are restructuring them because the contracts were designed to be restructured when they were first written two, three, and four years ago. They know now who is to be restructured next year, and the year after, and the year after.
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Thank YOU Mr Helper. Anybody here who didn't know that already please raise your hand.... You see Mr Racist, the cap DOES matter after all eh? Contracts are built to accommodate it. |
Re: Saints 2022 Cap Restructure Potential
I had posted this in the Free Agency thread but it applies to this topic perfectly.
This is a perfect example of how the structure of contracts can affect the ability to retain key player. Cooper's $100 million five year contract has straight base salaries of $20 each of his last four years. There are no roster bonuses as part of the $100 million. No workout bonuses. It appears that the base salary isn't written with a team unilateral conversion option. These are all common components used by Harley and Loomis in the average Saints contract construction giving the easy ability to readily free cap when needed. With the same $100 million outlay they have the ability to reduce that $20 million cap hit with a simple restructure in year three and retain the player with only a $7 million cap hit freeing up $13 million. On the other hand, the Cowboys may be forced to release the player while still taking a $6 million cap in in dead money from his initial $10 million signing bonus. They only free up $14 million in cap AND lose the player. All the details are here on Spotrac. |
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Still only the three restructures to this point. The Saints still have until March 18th to convert 2022 base salaries to signing bonus proration and until March 20th to convert roster bonuses to signing bonus as I pointed out earlier in the thread.
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And here they come again.+ I'll post the details once they become official.
That gets us to within around $30 million of the cap limit. |
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https://imgprd19.hobbylobby.com/8/ee...15-0721-PX.jpg |
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While overthecap.com and spotrac.com are the two most common sources of cap information, the NFLPA tracks the cap status, as well, and they have a slightly different current standing that the others.
NFLPA Public Salary Cap Report They had the Saints at ($35,702,371) to the cap before today's restructures. |
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