Saints lose $4.5M in 2017 salary cap space after paying back NFL loan
 

The New Orleans Saints just lost a chunk of salary cap space and it had nothing to do with signing a free agent, acquiring a new player or extending someone’s contract. On Monday, the league accounted for repayment of cap space loans given to multiple NFL teams at the onset of the new collective bargaining agreement (CBA) during the 2011 offseason. Due to the murky waters surrounding the uncapped season and new terms in the CBA, the NFL allowed teams to borrow up to $3 million towards their 2011 cap and another $1.5 million towards their 2012 cap. The Saints took both loans up to the maximum amount, $4.5 million total.

No, the Saints didn’t do this because they were broke. It appears only 9 of the 32 NFL clubs did not take out some sort of cap space loan over the course of the 2011 and 2012 offseasons.

The reconciliation shrunk the Saints 2017 space, per the NFLPA, from $12,710,725 on Monday to $8,210,725 on Tuesday’s report.

There are currently 23 teams with more salary cap space remaining than the Saints.

Link back to USA Today

Re: Saints lose $4.5M in 2017 salary cap space after paying back NFL loan
 

was that with interest?

Re: Saints lose $4.5M in 2017 salary cap space after paying back NFL loan
 

Most likely the reason for exercising the roster to bonus option on Armstead's contract. Loomis had to know this was going to hit the books. The guy is good at his job.

Re: Saints lose $4.5M in 2017 salary cap space after paying back NFL loan
 

not that good, we have 4 out of 5 seasons at 7-9 and maxed on cap.

Re: Saints lose $4.5M in 2017 salary cap space after paying back NFL loan
 

You think Loomis just magically predicted that? I'm sure all teams who had to pay back a loan were informed that it was going to happen.

Loomis is not a genius. This is very basic stuff.

Re: Saints lose $4.5M in 2017 salary cap space after paying back NFL loan
 

easy come easy go

Re: Saints lose $4.5M in 2017 salary cap space after paying back NFL loan
 

Well, with only 8 million left I just cant see Butler comig here. unless the contract is back loaded it would cost us 8 million just for him. I know we will be freeing up 7 June 1st but we need 8 million just to sign our draaft picks.

Re: Saints lose $4.5M in 2017 salary cap space after paying back NFL loan
 

You mean our salary cap is tighter than expected?

NeauxFW... :bng:

Re: Saints lose $4.5M in 2017 salary cap space after paying back NFL loan
 

We lost 4.5 million? Where's our tax return man?

Re: Saints lose $4.5M in 2017 salary cap space after paying back NFL loan
 

That's not on Loomis at all. Those bad moves are Payton related. Loomis is basically told to make Payton's desired moves possible within the cap. Not many GM's could have been able to manipulate the cap in that manner.