New Orleans Saints: Drew Brees and his dead money contract (1 Viewer)

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The New Orleans Saints soon-to-be free-agent quarterback Drew Brees has one of the most intriguing contracts among quarterbacks.

By Matthew Beighle | Who Dat Dish

In March of 2019, Drew Brees and the New Orleans Saints restructured his contract to a drop his salary from just over $33 million to roughly $25 million for the next two years, but they also added $21.3 million in dead money due to Drew Brees.

According to the NFL term dictionary, dead money “Refers to salary a team has already paid or has committed to paying (i.e., a signing bonus, fully guaranteed base salaries, earned bonuses, etc.) but has not been charged against the salary cap.

In business terms, it is essentially a ‘sunk cost.’

Any money a team pays a player must be accounted for against the salary cap. If there is dead money in a player’s contract and he is released or retires, that charge will accelerate onto the team’s salary cap for the current year.”

Therefore, the $21.3 million is already Drew Brees’ money whether he decides to come back or not.

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