frydaddy

Saints save $4.8 million in cap space by converting Cam Jordan’s bonus
February 17, 2016 Joel A. Erickson

The New Orleans Saints have created $4.8 million more in cap space by converting Cam Jordan‘s $6 million roster bonus into a signing bonus, a source confirmed to The Advocate on Wednesday.

By converting Jordan’s bonus, the Saints spread the charge out over the five seasons of the contract, meaning there’s now a $1.2 million cap hit in each of the five years of the $60 million extension Jordan signed last summer.



New Orleans has made a habit of converting bonuses to create room under the cap, using the tactic

By spreading out the cap hit, Jordan’s contract should now carry cap figures of
$11.5 million in 2017,
$13.7 million in 2018,
$13.5 million in 2019
$11.1 million in 2020.

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Mais forte do que a morte

rezburna

I like it.

ChrisXVI

So this gives us about $6.5 million in cap space without the Browner release or Brees extension I think. Making progress.

voodooido

Brees and Byrd are next. Should get another 15 million out of that. With 18 million of the dead money freeing up next year we should have a bright future.

Joker

Byrd converted his 6 million of his roster bonus to bonus money in 2015.. Really don't see Loomis giving him anymore money adding to future dead money.. Needless to say Byrd is not worth the money he's received to this point regardless of the reason..

rezburna

I kept saying the dead money talk meant nothing and we'd be fine.

Danno

Year after year people still doubt Loomis' cap skills.

We're 8 million UNDER the cap right now, and I'm sure more to come.

burningmetal

Count me in among those who still doubt him. What he's doing here is not a skill. He's dropping players who he over-paid in the first place, and often restructuring contracts that hurt us down the road. The Jordan thing makes sense, and is an easy move. An extension with Brees is about as obvious as it gets.

There are multiple reasons for this team's suckage in recent years, and Loomis' poor contracts and constant back-loading are among them. I've said that you can't afford to worry about dead money moving forward. Some people thought this team should hang onto Browner because of the dead money, but that makes zero sense. That being said, it still looks bad on Mickey's part that he's got that much wasted money floating around.

If I had a nickel for every time I heard that, the NFL would fine and suspend me.

ScottF

Yes.
This stuff isn't accidental. Loomis has had a few misteps, but you know that as soon as he signed Jordan's deal that this is what he had in mind

hagan714

I still do.

shoveling a pile of crap over shoulder only gets you so far till you turn around and have to shovel it yet again.

The saints over payed out of super bowl loyalty and that is why we are were we are today. I hope they learned a lesson.

Micky has to play this game till 2017 so then I will judge from that point on.

So we can sign our draft class and have some change left over.