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The New Orleans Saints have signed defensive end Cameron Jordan to a two-year contract extension, it was announced by Saints Executive Vice President/General Manager Mickey Loomis. With the extension, Jordan is under contract with the Saints for three years through the 2025 season.

dizzle88

We really need to win Cam a superbowl before he hangs them up, he deserves it.

AsylumGuido

Okay, this is funny.

AsylumGuido

AsylumGuido

AsylumGuido

Crusader

I love this. He has been so great for us for such a long time. Players like him deserves to be with the same club the whole way.

BakoSaint

Cam is a great guy. $27.5 million is a number that is in-between breaking the bank and getting a hometown discount.

We owed Cam $23 million in what would have been dead money from 2024 forward. We still owe that but now $15 million of it comes in 2024-2025 when he is under contract. So really, Cam will be counting 23+27= $50 million against our cap 2024 and forward with two years of play and retirement, though a chunk of that money is really back pay for previous years that was deferred.

Depending on how the contract is structured that will determine our dead cap in 2026. For the $27.5 million deal, $2.5 million will cover the base salaries for the 2024-2025, though its possible they will be higher initially but likely restructured down to that level with how Loomis operates. This means $25 million will come in the form of bonuses now or during later restructures. At an absolute minimum, 50% of that money would be prorated to 2026 and beyond. Realistically, its possible 80% of it could be prorated to 2026 and beyond, for example Cam could have a fully guaranteed 2025 base salary of $26 million that will be restructured in 2025 to a salary of $1 million with a $25 million bonus that will be prorated through voidable years 2029 at $5 million a year, making only $5 million hit in 2025.

So depending on how the contract and any restructures are structured, we are looking at $7 million previous prorated dollars in 2026+ combined with $13 -$20 million new prorated dollars in 2026+, so we can expect the dead cap hit for Cam Jordan's retirement in 2026 to range from $20-27 million versus what would have been $23 million in 2024. So at least we are probably treading water not getting further in the hole here. Either way I think he could be a designated post-June 1 cut in 2026 just like he may have been in 2024, splitting the cap hit between two cap years.

While this is nice and all, I think there is a fair argument that we could have waited. With a young star like Burrow, Maholmes, Chase, Jefferson, etc you don't want to risk waiting because maybe the player walks or the market goes way up. Maybe they have a record year that tops anything they have done before and some team lines up and offers them $50 million a year as they are settling into their prime and prove they have even more ability than known. With Jordan and his age, I don't see that as a risk. I hope he continues to produce, and he may, but if he gets hurt or declines this season, I think we are really going to wonder why we couldn't have just waited to ink this type of deal until February. If we win the Super Bowl with Cam Jordan as the game's MVP, I still would see him resigning with us on a similar deal after the game, maybe getting a small bump in the cash, but I don't see other teams swooping in and offering 5 year $125 million deal to a player his age based off one especially great season changing his value when there are already 10+ years to go off of. But on the other hand there are many scenarios where we regret doing this now if he gets hurt or declines or Cam regrets it if we have a down year and decide to rebuild in 2024-2025.

If there is a player to do something financially questionable to keep in a Saints jersey until retirement, Cam is that player. But I worry the main reason to do this now not in February might be so Mickey Loomis can prevent articles from being published during this season talking about the Saints upcoming dead cap in 2024 that might reflect badly on Mickey Loomis. We could have done this deal in 6 months with much less risk, but then for those 6 months journalists could have written about the dead cap.

AsylumGuido

Let me guess, Bako just published another novella basically criticizing the Saints front office and specifically demonizing Loomis.

Or maybe he posted classy praise of Jordan's extension.




Naw.

AsylumGuido