Time to panic with Michael Thomas a no-show at Saints camp? No way.
 

Michael Thomas typically flexes after making a catch.

On Thursday, he did it before making one.

Thomas flexed, at least symbolically, 46 days before the start of the season and 24 hours before the start of training camp.

The Saints' oh-so-productive, Mr. Reliable receiver was a no-show when the team reported to the team's practice facility in Metairie.

According to a source, Thomas won't arrive at camp until he and the Saints reach a new contract extension.

But don't panic, Saints fans.

Not yet, anyway.

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Best guess here is that a blockbuster deal that will make Thomas one of the highest-paid receivers in NFL history will happen sooner than later.

Thomas has one year remaining on his rookie contract. He and the Saints were hoping to reach a new deal before the start of training camp Friday, so as not to have that hanging over their heads throughout the season and spilling over into next summer.

"Yeah, it bothers me, because, look, it’s a reflection on the job that we do," Saints general manager Mickey Loomis said. "In a perfect word, this would be done, and we’d both feel either real good about it or both feel real bad about it and he’d be in there working. Look, one thing I know: I know Michael Thomas wants to be here, so it’s not a question of him not wanting to be here."

If Thomas didn't want to practice without a new contract, he wouldn't have shown up at OTAs and minicamp in May and June. Thomas loves practice just as much as much as he loves playing on Sundays — a trait his teammates often rave about.

So don't expect this to linger.

Here are a couple reasons why.

Loomis, when asked if the two sides are far apart, responded: "I wouldn't say that."

All other indications say the same.

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Re: Time to panic with Michael Thomas a no-show at Saints camp? No way.
 

I do hope they can get a deal together quickly before Julio Jones' and Tyreek Hill's contracts, so that those guys will demand even more from their teams.

Re: Time to panic with Michael Thomas a no-show at Saints camp? No way.
 

Another factor here is that this is an early extension.

Wait another year and see what the price is. Better believe it won't be 20M.

Re: Time to panic with Michael Thomas a no-show at Saints camp? No way.
 

Cut him now! I mean a deal.

Re: Time to panic with Michael Thomas a no-show at Saints camp? No way.
 

I think the hangup is the structure. Currently, Thomas is only carrying a $1.6M 2019 cap hit. Ideally for him he would want the deal to be a restructure which would encompass any signing bonus be prorated into 2019, thus increasing the overall 2019 cap hit. Thomas, and his agent, want to start reaping the benefits right away.

On the other hand, the Saints would rather the deal be an add-on with 2019 remaining the same and any bonus beginning in 2020, a structure much easier to absorb on the books. The overall dollars can be the same and the guarantee can be the same, as well, but the number juggling can be problematic.

To comply with Thomas' wishes it would require restructuring of other player contracts, something the team would rather not do at this point as it is their "savings account".

Re: Time to panic with Michael Thomas a no-show at Saints camp? No way.
 

I agree it’s the cap hit this year not next. Why don’t we load him up an insurance policy for 100 mil and get him in here now.

Re: Time to panic with Michael Thomas a no-show at Saints camp? No way.
 

I'd be more worried if this were the NBA and some other players were tampering and recruiting him. But our major pull is Coach Payton and this offense. Unless his agent is unusually snobby I think this will work out.

Re: Time to panic with Michael Thomas a no-show at Saints camp? No way.
 

The NBA is the only league where a Finals MVP would up and leave just 2 weeks after winning a championship and not even getting their ring yet.

This whole thing does concern me. What will hurt this team down the line is when we have to pay everyone and won't be able to afford to do so.

Re: Time to panic with Michael Thomas a no-show at Saints camp? No way.
 

Loomis pulls out his magic wand ...

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