The Saints restructured two contracts yesterday in an effort towards salary cap compliance, according to ESPN’s Field Yates. Both linebacker Demario Davis and tight end Taysom Hill have agreed to the new arrangements to lower their cap hit next season.
Davis is under contract through the 2025 season, Hill through 2026. Davis had another stellar season for the Saints in 2022. Since joining the team in 2018, he’s missed one game and been a first- or second-team All-Pro in every season but his first in New Orleans. The team converted $7.09MM of base salary for the 34-year-old’s 2023 season into a signing bonus, clearing $5.67MM in cap space off of his contract. He now holds a cap hit next year of $7.61MM with a base salary of $1.17MM.
Hill had another productive year as a Swiss-army weapon for New Orleans. The quarterback/tight end continued to show a much larger impact rushing than receiving but steeply declined in his passing numbers this year. The team converted $8.82MM of base salary for the 32-year-old’s 2023 season into a signing bonus, clearing $7.06MM in cap space off of his contract. He now holds a cap hit next year of $6.87MM with a base salary of $1.08MM.
The team still has several avenues it can explore to create cap space. Defensive end Cameron Jordan ($25.7MM), cornerback Marshon Lattimore ($22.4MM), guard Andrus Peat ($18.3MM), running back Alvin Kamara ($16MM), and quarterback Jameis Winston ($15.6MM) all hold cap hits over $15MM that could likely be restructured.
Here are few other recent moves as teams strive towards cap compliance:
- After signing a three-year, $26.25MM contract a year ago, guard Austin Corbett has agreed to a restructured deal with the Panthers, according to Panthers staff writer Darin Gantt. Corbett contributed to a much-improved offensive line this season, starting all 17 games before suffering a torn ACL in the team’s last game of the year. The 28-year-old is working towards a return spending every day at the facility in recovery. Yates of ESPN reports that the team converted $7.72MM, consisting of his base salary and a $1MM roster bonus, into a signing bonus, freeing up $5.79MM in cap space. Corbert now holds a 2023 salary of $1.08MM and a cap hit of $5.16MM.
- Yates’s above report on Corbett also mentioned the Browns recent restructuring of wide receiver and return-specialist Jakeem Grant. Grant missed the 2022 season with a torn Achilles tendon after signing a three-year, $10MM contract in the offseason. The renegotiated deal for Grant reportedly reduces his cap hit by $1.77MM.
- Eagles center Jason Kelce is currently headed towards free agency or, potentially, retirement. Still, since Philadelphia has a habit of building voidable years into contracts in an effort to lessen the salary cap burden of deals, the team found it necessary to decrease that financial burden that Kelce’s expiring contract has on their future. According to yet another report by Yates, the Eagles paid Kelce a $3MM bonus yesterday, consisting of his $2.75MM 2023 roster bonus and $250,000 2023 offseason bonus, to reduce his 2023 cap hit. The move reportedly cleared up around $2.4MM of cap space for Philadelphia next season.
Keep KELCE AND GRAHAM. Just do it.
No wonder New Orleans is in trouble. Paying $8 million plus for Hill? Swiss Army Knife? More like a One trick Pony or Gimmick player. Just wow that kind of $$$ for him.