Saints Cap Moves: $30,305,932 cap space ….. 8 restructures, 3 extensions, 3 pay cut, 1 release [All current cap moves are in OP below line]

[SonOfNOLA]

Underhill’s latest article is about the cap space accumulation. In short, he doesn’t think any sort of big reveal is coming.

NewOrleans.Football

neworleans.football

Makes sense because a handful of 1-year, vet min—$5 million FAs who can start or have untapped potential would be more helpful to the Saints right now than throwing out a 1/3-half of the cap space on one player. Its looking like they made space to rollover cap for absorbing some of next year’s dead money.

 

[StudioSaint]

I thought that was last year’s line, about resetting things back to a certain mean. This year the line was that we’d be more aggressive this off-season, more active than last offseason, but I would not say we have done that to this point.

Loomis clearly said they'd be more active this year than last.

“I think we’ll be able to add a few pieces,” Loomis said. “It just depends upon the who, the where and the cost. I expect us to be active.”

Asked if that meant more than last year, Loomis replied, “Yeah.”

The Saints expect to be 'active' in free agency after taking quieter approach last year

When the NFL informed teams last week that next season’s salary cap was expected to fall between $277.5 million and $281.5 million, the projection was even higher than the New Orleans Saints anticipated internally.

www.nola.com

People will interpret what Loomis said however they want to interpret it.

 

[StudioSaint]

Yes, and that's on the coaching staff for not finding ways to help their rookie QB make those adjustments with plays that give him options when teams let loose their blitzers. Obviously the player takes some responsibility, but he was a rookie 5th round pick. The staff has to realize that and help him with the play calling.

It's possible the coaches did exactly that and Rattler still struggled.

Just like we don't know it wasn't the coaches, we also don't know it wasn't Rattler.

 

[StudioSaint]

I've always assumed that after they restructured this year the plan would be to cut/trade car post June 1 next year or at least with a post June 1 designation.

I think that their only plan with Carr is to see how it goes this year and base next year's decision on who it goes this year. That would be the most flexible approach and being flexible almost always works out better than being rigid.

 

[StudioSaint]

I’ve assumed that once they restructured him this year he would play both 2025 and 2026 seasons because the cap hit of all of the voids and his cap hit would be far too much dead money for any team to absorb. The weirdness around Carr right now makes it seem untenable though.

Fan weirdness around Carr doesn't impact tenability. Only weirdness around Carr from coaches and players would impact tenability. I've not see any credible indications that current players and current coaches have any weirdness around Carr.

 

[StudioSaint]

I left a voicemail for Mickey imploring him to sign another high-priced free agent. I am worried for those of you here who may not be coping well with cap money just sitting there, not being spent.

I'm no doctor, but I think you really should get your hands checked out.

 

[syeager]

Something has to be happening soon.

How soon?

 

[DSnfla]

I get what you're saying and would agree except that Ross Jackson doesn't tend to be a sensationalist or clickbait-driven guy. He's an actual journalist by trade, so I give him a little more latitude when it comes to things like this.

I would normally as well but lately his podcasts have been very negative about DC and very trade DC oriented. It looks like he's chasing clicks

 

[DSnfla]

It would be like being able to get your cover charge back when you pay to go see a musician play and they’re only loud and combative rather than interesting and good.

Well normally when you go see a musician/band play you have a really good idea of who and what they are. And it does not say on the marquee that the Stones are going to be playing and it really is a Stones tribute band

 

[DSnfla]

Touche, forgot we lost Taysom too

Ruiz also got hurt in the Eagles game

 

[Judge_Smails]

Well normally when you go see a musician/band play you have a really good idea of who and what they are. And it does not say on the marquee that the Stones are going to be playing and it really is a Stones tribute band

Sometimes people just walk into a club or venue to see if there’s good music. Why can’t they un click?

 

[madsaint1967]

For you lovers of cosmetic cap space...

I think the team is looking ahead to 2026, not trying to sign anybody big for this year. 2026 is going to be much harder than many on here think it will be. I will be going under the assumption the cap will be around $300 million.

In 2026 we have many voiding contracts that carry more than $67 million in dead money. In addition to that, Carr will cost $32 million if he is restructured again. That's around $99 million accounting for just for one player. In the worst case scenario they cut Carr and it goes up to $126 million in cap for no player on the roster, breaking the all time dead cap record by roughly $41 million. This is the number I will use as most believe 2025 is Carr's last season with the team.

That leaves roughly $174 million in 2026 for the 51 players that count toward the cap. The next problem is that after Carr is cut, there are only 34 other players under contract and that $174 million has to cover them all and players like Penning, Olave and Taylor are not included as they will be free agents in 2026, unless the team picks up 5th year options for Olave which would cost around $22 million. Let's say they do exercise Olave's option, $174m - $21m (cost of the option) = $153m. So now we have added 1 more players for a total of 35, but only have $153m for the other 34 players plus the other 17 new players to get to 51 players. All of that $153m is already used up and we are over the cap for 2026 and still need to add those 17 players to get to the 51.

And because we are left with a pile of young player on rookie contracts that can't be restructured, there isn't nearly as much room for restructures as there has been in the past. We can probably get around $55m in restructures as it stands now, will be more once Justin Reid's contract is added, but the amount of cap space will also go down so it's pretty much a wash.

To make a long story short, I think they are creating rollover cap money that they can count on right now, just so they can field a full roster next year. It's not for some great player this year.

Disagree, they did this to sign players, not for cap next year. I think they may be waiting to sign players after the deadline for Compensatory picks, could be some handshake deals for players to wait. Mickey doesn’t clear space without using it. And I cracked up seeing Mickey chewing that gum

 

[DSnfla]

Sometimes people just walk into a club or venue to see if there’s good music. Why can’t they un click?

Uh , they can. If you go to a club and pay the cover charge and if in the 1st 20 mins or so you don't like the band/musician and want to leave and ask for a refund you will more than likely get your $ back. Have you ever tried it?

 

[Merl]

Disagree, they did this to sign players, not for cap next year. I think they may be waiting to sign players after the deadline for Compensatory picks, could be some handshake deals for players to wait. Mickey doesn’t clear space without using it. And I cracked up seeing Mickey chewing that gum

The Saints have been penalized once a few years ago for that. I don’t they try it again.