Saints Cap Moves: $27,092,090 cap space ….. 8 restructures, 3 extensions, 3 pay cut, 1 release [All current cap moves are in OP]

I don't think so at all. That minor amount of cap savings is irrelevant. Saving $9.5 million doesn't change his dead cap number of $59,670,000 at all and that is a MASSIVE number to carry for a player not on the team. The only player to have that kind of dead money was Russell Wilson after the Broncos made one of the worst decisions in NFL history. Deshawn Watson will soon follow. That is where we are with his numbers.
The dead money next year is money all ready paid. It is also irrelevant if it is lower than the cap hit if he stays on the roster.