The New Orleans Saints are in severe salary cap shape this offseason, but with a series of actions, including a Cameron Jordan deal renegotiation, the NFC South team is gradually digging itself out.
“Eight-Time Pro Bowl DE Cameron Jordan became the latest New Orleans player to restructure his contract, signing a deal to free up another $1.5 million against the Saints’ salary limit, according to ESPN source Adam Schefter on Thursday. “Saints also have reworked the contracts of QB Derek Carr, G Cesar Ruiz, DT Nathan Shepherd, and center Erik McCoy.”
Despite the move, the Saints are still more than $20 million over the salary ceiling for 2024, according to Spotrac, implying that the team will make other moves.
While the Saints are in severe financial trouble as of the end of February, they are not in the worst circumstances in the league. The Saints are now 29th in salary cap space, with the Los Angeles Chargers, Miami Dolphins, and Buffalo Bills all above the threshold.
Jordan, 35, has two years left on his contract and is the team’s second-highest-paid player, after 30-year-old offensive tackle Ryan Ramczyk.
In addition to deciding what to do with Ramczyk in the coming days and weeks, the Saints will need to restructure or release players such as running back Alvin Kamara, tight end/quarterback Taysom Hill, and cornerback Marshon Lattimore.
New Orleans is among the league’s finest at making the most of a difficult salary cap scenario. Since the Drew Brees era, the organization has been either close to or above the cap in the offseason. Still, after missing the playoffs for the previous three seasons in a row, the Saints may need to go through a big purge in the coming years to finally get their on-field economics in order.
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