NOF: Saints in position to get under the cap with ease and create another $30+ million in cap space to add new players

I’d say that this still can’t be attributed to cap issues.
Davenport, and possibly also Foskey busting is a big reason for that.

Sure it would be nice to have kept Trey in hindsight, but we decided to roll the dice on Davenport and also during the most unique financial offseason ever, we (incorrectly) bet that Trey was a one year wonder.
Loomis was on record saying he wanted to keep Trey but the numbers would need to work. Trey only got $16m guaranteed, it's almost pitiful that we couldn't sign him for that. At the time 45 edge rushers had more guaranteed money on their contracts than he did.

We gave more guaranteed money to Granderson after just two games this season.