Understanding the New Orleans Saints' Salary Cap Crisis

The New Orleans Saints are facing a significant salary cap challenge as the 2025 NFL season approaches. With an estimated $45 million in dead money from recent player departures, the Saints must make strategic moves to become cap compliant by March 12.

Key Financial Decisions

1. Managing Dead Money: The Saints have accumulated substantial dead money from releasing players like Michael Thomas, Jameis Winston, and Marshon Lattimore. The potential voiding of contracts for Juwan Johnson, Tanoh Kpassagnon, and Chase Young could add $17.4 million to the dead money total.

2. Restructuring Contracts: A critical focus is on Derek Carr's contract. With a $51.4 million cap figure, restructuring Carr's deal could free up $30.9 million in 2025 but push $7.7 million into 2026.

3. Potential Pay Cuts: Veterans like Taysom Hill and Cameron Jordan may be approached for pay cuts. Reducing Jordan's base salary to $6.5 million could save $6 million, while Hill's potential pay cut could save $3.5 million.

Strategic Moves for Cap Compliance

1. Restructuring Young Core Players: Players like Erik McCoy and Cesar Ruiz are prime candidates for restructuring. McCoy's restructure could save $6.7 million, and Ruiz's could save $6.4 million.

2. Veteran Contracts: Decisions regarding veterans Demario Davis and Tyrann Mathieu will be crucial. Restructuring their contracts could save up to $5.5 million each.

Conclusion

The New Orleans Saints are in a tight financial spot but have several avenues to free up the necessary cap space. Strategic restructures and potential pay cuts will be key to ensuring the team can compete in the 2025 NFL season.