The Saints have created $2.71MM in cap space by restructuring quarterback Teddy Bridgewater‘s contract, reports Field Yates of ESPN.com (Twitter link).
Bridgewater, whom New Orleans acquired (along with a sixth-round pick) from the Jets last month in exchange for a third-rounder, had been due a base salary of $5MM. The Saints converted just over $4MM of his salary into a signing bonus, but because Bridgewater is on a one-year deal, the club also had to add two voidable years to the end of the contract. That allows New Orleans to spread out some of Bridgwater’s cap hit (for now).
The Saints’ front office is known for kicking the can down the road financially, and while moving a bit of Bridgewater’s money to future years isn’t as odious as some of the club’s previous contract errors, his salary will hit New Orleans’ cap at some point. Specifically, the Saints will be docked cap space in 2019 when Bridgewater’s one-year deal voids after the season.
Bridgewater will serve as Drew Brees‘ backup in 2018, but it’s unclear if the Saints view Bridgewater as Brees’ heir and therefore want to sign him to an extension. If Bridgewater is forced to play this season, he could earn up to $9MM via performance and playtime incentives.
I wonder if Brees is about to hang them up after one more run at it. A third round pick is a lot for a one year backup. With his money off the books, signing Bridgewater to a long term deal would be easy. This gives them a chance to kick the tires on Teddy before they commit. Just a thought.
I thought you weren’t able to restructure deals until after a year. Isn’t this the first year of his deal? Is it different when the person is traded?
I think when someone is traded, the team inherits all of the details of the old contract, but yeah, you’re right, it doesn’t seem like over a year ago since the Jets signed him.
Maybe they structured this as a cut/release of Teddy, with a simultaneous resigning to this deal?
I would imagine the restrictions would apply if a player was going to have his cap hit reduced. Which in this case it will not be reduced
Still can’t believe the Jets were able to sign Teddy Bridgewater this offseason and trade him before the season started. Why the Saints or another team that really wanted a backup / future QB didn’t sign him prior.
Bridgewater signed likely with the hope that he could become the starter. If that was the case, the Jets offered a better chance to start than a team looking for a backup.
Also you have to remember no one knew if Teddy would actually be healthy or look good at all. He proved all that during the preseason though
Because he had a legit chance at beating out McCown with the jets. That is until Darnold was available. If the Jets didn’t get Darnold and the board dictated Josh Allen or Josh Rosen then he would probably b starting for the Jets. He sign with the jets for a chance to start.