New Orleans Saints News & Rumors

Drew Brees Retires From NFL

Well, it’s officially official. One of the best quarterbacks of this century is hanging up his cleats, as Drew Brees announced his retirement (with help from his kids) in an Instagram video post on Sunday.

After 20 years as a player in the NFL and 15 years as a Saint, it is time I retire from the game of football. Each day, I poured my heart & soul into being your Quarterback. Til the very end, I exhausted myself to give everything I had to the Saints organization, my team, and the great city of New Orleans. We shared some amazing moments together, many of which are emblazoned in our hearts and minds and will forever be a part of us,” Brees wrote in the caption.

“You have molded me, strengthened me, inspired me, and given me a lifetime of memories. My goal for the last 15 years was striving to give to you everything you had given to me and more. I am only retiring from playing football, I am not retiring from New Orleans. This is not goodbye, rather a new beginning. Now my real life‘s work begins!”

This had been the expectation all along, but there was some doubt injected recently as many wondered what was taking Brees so long to make it official. A workout video posted by his trainer sparked some speculation that Brees could be planning on playing in 2021 after all. As it turns out it looks like Brees was waiting for a sentimental date, as many were quick to point out that today marks 15 years to the day since Brees first signed with the Saints back in 2006.

Brees signed with NBC last April to line up his post-playing career, and will now presumably transition to the broadcast booth like Tony Romo and many others before him. He’ll reportedly be commentating Notre Dame football games to start.

A second-round pick out of Purdue all the way back in 2001, Brees had an incredible career that ended up spanning two full decades. He spent his first five pro seasons with the Chargers, and after a devastating shoulder injury that many feared at the time would have long-term effects, signed with New Orleans in 2006. He helped turn a franchise in a pitiful state into a consistent winner, and will now be headed to Canton soon enough.

The peak of his career on the gridiron came during the 2009 season, when he led the Saints to a Super Bowl XLIV title. His name is all over the record books, as he currently has the most passing yards in NFL history among plenty of other similar accomplishments.

The 13-time Pro Bowler’s retirement now sends New Orleans into their most uncertain offseason in some time. Sean Payton has his work cut out for him, and must now choose between Taysom Hill and Jameis Winston, or bringing in an outside the box option. Payton issued a statement reflecting on Brees’ career, which you can read via this tweet from Nick Underhill of NewOrleans.Football.

All of us here at PFR wish Brees the best in retirement, and thank him for his many contributions to the game.

Saints Restructure Michael Thomas’ Contract

Michael Thomas, in all likelihood, is staying put. The star wide receiver has agreed to a restructure that will save the Saints $8.7MM in cap space (Twitter link via NFL.com’s Ian Rapoport). 

The Saints have been restructuring players left and right as they work to get under the ~$182MM salary cap. In recent days, safety Malcolm Jenkins, defensive end Cam Jordan, linebacker Demario Davis, and guard Andrus Peat have done their part by agreeing to similar arrangements. Others, like cornerback Janoris Jenkins and wide receiver Emmanuel Sanders, were released outright. It’s not clear if those vets were approached about potential pay cuts first.

Entering 2020, Thomas had missed just two contests in his pro career. Then, Thomas suffered a high ankle sprain in Week 1. He was limited to just seven games in 2020. He repeatedly clashed Saints brass, leading to trade speculation before the fall deadline.

To recap: The Saints handed Thomas a one-game suspension for striking a teammate. Then, he missed time with a hamstring injury. All in all, Thomas finished out the regular season with just 40 catches for 438 yards. He did manage to catch five passes for 73 yards and one score in the Saints’ playoff win over the Bears, however.

The Saints would have to be especially miserable with Thomas in order to cut ties. His massive five-year, $100MM extension from 2019 means that a divorce would be mighty expensive. Instead, they’ll try to mend fences, because Thomas is one of the game’s most dangerous threats when he’s healthy.

Saints To Release Malcom Brown

The Saints plan to release defensive tackle Malcom Brown, according t0 Josina Anderson of ESPN.com (on Twitter). The former Patriots first-round pick was set to enter the third season of his three-year deal.

[RELATED: Saints Release Janoris Jenkins]

By cutting Brown, the Saints will save nearly $5MM in cap space with about $1.5MM in dead money. It’s just the latest move to get under the limit, following this week’s cuts of cornerback Janoris Jenkins, wide receiver Emmanuel Sanders, linebacker Kwon Alexander, and other veterans.

Brown, 27, served as a starter in each of his two Saints seasons, often ahead of ex-first-rounder Sheldon Rankins. Last year, he notched 27 tackles and a sack.

Saints Release Janoris Jenkins

The Saints are releasing cornerback Janoris Jenkins, as NFL.com’s Ian Rapoport tweets. Jackrabbit was due to earn $11.2MM with a cap hit of $14.2MM. Instead, the Saints will cut him to save about $7MM on the books for 2021. 

The Saints extended Jenkins last year, smoothing out his cap hit with a two-year, $16.75MM add-on. The new deal pushed most of Jenkins’ guaranteed cash into 2020 while effectively turning 2021 and 2022 into option years. The 32-year-old (33 in October) was claimed off waivers by the Saints in December 2019. The former Giants standout was still productive in New Orleans, but the Saints are being forced to shed veterans as the cap drops.

Starting opposite of Marshon Lattimore, Pro Football Focus graded Jenkins as the 42nd best cornerback in the NFL out of 121 qualified players last year. Lattimore — younger and cheaper than Jenkins — could be kept for the long haul if the Saints can hammer out an extension. Lattimore is currently attached to a $10.2MM fifth-year option salary. After that, the 2017 first-rounder will be extension eligible.

NFL Announces Compensatory Picks For 2021 Draft

The NFL has awarded compensatory draft picks for teams in the 2021 draft.

These picks are awarded to the teams that suffered the most significant free agent losses during the 2020 offseason. This year, the NFL awarded 36 comp picks. The comp pick formula assigns picks who suffered the largest net losses, so teams that signed multiple free agents have a lesser chance of receiving picks. The Cowboys top the list (shared below) with a league-high four selections.

A change to this year’s formula took place, with the NFL awarding four picks to teams who saw one of their minority staffers become a head coach or GM. The 49ers, Rams, Ravens and Saints earned third-round comp picks this year. They will receive additional third-rounders in 2022. The Rams added a third-rounder after losing college scouting director Brad Holmes (Lions GM); the Ravens lost quarterbacks coach David Culley (Texans HC); the Saints lost assistant GM Terry Fontenot (Falcons GM). In losing VP of player personnel Martin Mayhew (Washington GM) and defensive coordinator Robert Saleh (Jets HC), the 49ers will have an additional third-round pick in 2023 as well.

Here’s the full breakdown, by round and by team:

By round:

Round 3: Patriots (No. 96 overall), Chargers (97), Saints (98), Cowboys (99), Titans (100), Rams (101), 49ers (102)*, Rams (103)*, Ravens (104)*, Saints (105)*

Round 4: Cowboys (No. 139 overall), Patriots (140), Steelers (141), Rams (142), Packers (143), Vikings (144), Chiefs (145)

Round 5: Packers (No. 178 overall), Cowboys (179), Falcons (180), 49ers (181), Chiefs (182), Falcons (183), Ravens (184)

Round 6: Buccaneers (No. 217 overall), Saints (218), Falcons (219), Packers (220), Bears (221), Panthers (222), Vikings (223), Eagles (224), Eagles (225), Panthers (226), Cowboys (227), Bears (228)

By team:

  • Dallas Cowboys (4)
  • Atlanta Falcons (3)
  • Green Bay Packers (3)
  • Los Angeles Rams (3)
  • New Orleans Saints (3)
  • Baltimore Ravens (2)
  • Carolina Panthers (2)
  • Chicago Bears (2)
  • Kansas City Chiefs (2)
  • Minnesota Vikings (2)
  • New England Patriots (2)
  • Philadelphia Eagles (2)
  • San Francisco 49ers (2)
  • Los Angeles Chargers (1)
  • Pittsburgh Steelers (1)
  • Tampa Bay Buccaneers (1)
  • Tennessee Titans (1)

* = special compensatory selection

Contract Restructures: Panthers, Cowboys, Giants, Saints, Eagles, Steelers

It’s that time of year when teams are frantically maneuvering ahead of free agency. Due to the cap falling because of COVID-19, things are even more hectic than ever. We’ve seen a whole bunch of contract restructures come in, and there will be a whole lot more. Let’s catch you up on the latest batch and their financial implications:

  • The Panthers restructured Christian McCaffrey‘s contract recently, Mike Garafolo of NFL Network tweets. They converted $7MM of his $8MM base salary into a signing bonus, which freed up about $5.6MM in cap space for 2021. Almost a year ago McCaffrey signed his record-breaking extension that has him locked up through the 2025 season.
  • The Cowboys have had a busy week with Dak Prescott‘s massive extension now in the books, and they made a trio of moves to help clear some space. Dallas restructured the deals of Zack Martin, Tyron Smith, and La’el Collins, a source told Todd Archer of ESPN.com. The reworking of the three offensive linemen’s contracts cleared up about $17MM in cap space for Jerry Jones. As Archer notes, these moves have now gotten Dallas under the cap for 2021.
  • The Giants just cut top offensive lineman Kevin Zeitler as they look to clear cap space to keep guys like defensive linemen Leonard Williams and Dalvin Tomlinson. The Zeitler release isn’t the only shuffling they’re doing, as they also restructured the contract of tight end Levine Toilolo, and Jordan Raanan of ESPN.com tweeted the details. Rather than a procedural restructure like you see with star players, Toilolo actually took a pay-cut to stay with the team. He had been scheduled to make $2.95MM this year but agreed to reduce that to $1.6MM, saving the Giants north of $1MM against the cap.
  • We’ve got four other restructures to pass along, courtesy of this tweet from Ian Rapoport of NFL Network. The Saints restructured the deals of safety Malcolm Jenkins to save $3.4MM and offensive lineman Andrus Peat to save $6MM. New Orleans has the worst cap situation in the league, and they desperately needed moves like this to do things like franchise tag safety Marcus Williams.
  • The Eagles saved $2.4MM by reworking the deal of offensive lineman Isaac Seumalo. Philly is right up there with New Orleans in terms of bad cap situations, so GM Howie Roseman is likely far from done here.
  • The Steelers saved $880K by adjusting fullback Derek Watt‘s contract. Not exactly front page news here, but it should shore up Watt’s spot on the 2021 roster. T.J. and J.J.’s brother signed a three-year, $9.75MM pact last offseason.

NFL’s Fifth-Year Option Salaries For 2021

The NFL’s 2021 salary cap has been set at $182.5MM, marking the league’s first reduction in a decade. With that, the league has also ironed out the value of this year’s fifth-round option for 2018 first-round picks.

Here’s the full rundown, via NFL.com’s Tom Pelissero (on Twitter):

1. Baker Mayfield, Browns, QB — $18.858MM (playing time)

2. Saquon Barkley, Giants, RB — $7.217MM (1x Pro Bowl)

3. Sam Darnold, Jets, QB — $18.858MM (playing time)

4. Denzel Ward, Browns, CB — $13.294MM (1x Pro Bowl)

5. Bradley Chubb, Broncos, LB — $12.716MM (1x Pro Bowl)

6. Quenton Nelson, Colts, G — $13.754MM (2x Pro Bowl)

7. Josh Allen, Bills, QB — $23.106MM (1x Pro Bowl)

8. Roquan Smith, Bears, LB — $9.735MM (playing time)

9. Mike McGlinchey, 49ers, OT — $10.88MM (playing time)

10. Josh Rosen, Cardinals, QB*

11. Minkah Fitzpatrick, Steelers, S (drafted by Dolphins) — $10.612MM (2x Pro Bowl)

12. Vita Vea, Buccaneers, DT — $7.638MM

13. Daron Payne, Washington, DT — $8.529MM (playing time)

14. Marcus Davenport, Saints, DE — $9.553MM

15. Kolton Miller, Raiders, OT — $10.88MM (playing time)

16. Tremaine Edmunds, Bills, LB — $12.716MM (1x Pro Bowl)

17. Derwin James, Chargers, S — $9.052MM (1x Pro Bowl)

18. Jaire Alexander, Packers, CB — $13.294MM (1x Pro Bowl)

19. Leighton Vander Esch, Cowboys, LB — $9.145MM

20. Frank Ragnow, Lions, C — $12.657MM (1x Pro Bowl)

21. Billy Price, Bengals, C — $10.413MM

22. Rashaan Evans, Titans, LB — $9.735MM (playing time)

23. Isaiah Wynn, Patriots, OT — $10.413MM

24. D.J. Moore, Panthers, WR — $11.116MM (playing time)

25. Hayden Hurst, Falcons, TE (Drafted by Ravens) — $5.428MM

26. Calvin Ridley, Falcons, WR — $11.116MM (playing time)

27. Rashaad Penny, Seahawks, RB — $4.523MM

28., Steelers, S Terrell Edmunds — $6.753MM (playing time)

29. Taven Bryan, Jaguars, DT — $7.638MM

30. Mike Hughes, Vikings, CB — $12.643MM

31. Sony Michel, Patriots, RB — $4.523MM

32. Lamar Jackson, Ravens, QB — $23.106MM (1x Pro Bowl)

* Rosen was released from his original contract and, therefore, is not option-eligible 

As a refresher, the fifth-year option year is now fully guaranteed. In the past, it was guaranteed for injury only. The values are also dependent on certain performance metrics:

  • Two-time Pro Bowlers (excluding alternate Pro Bowlers) will earn the same as their position’s franchise tag.
  • One-time Pro Bowlers will earn the equivalent of the transition tag.
  • Players who achieve any of the following will get the average of the 3rd-20th highest salaries at their position:
    • 75%+ snaps in two of their first three seasons
    • 75%+ average across all three seasons
    • 50%+ in each of first three seasons
  • Players who do not hit any of those benchmarks will get the average of the 3rd-25th top salaries at their position.

Saints Release Emmanuel Sanders

The Saints have released Emmanuel Sanders, according to Adam Schefter of ESPN.com (on Twitter). The wide receiver has since confirmed the news via social media.

[RELATED: Saints Release Alexander]

Sanders joined the Saints on a two-year, $16MM deal this time last year. The veteran went on to notch 61 catches for 726 yards and five touchdowns. Even though he was productive, he was less efficient on a per-catch basis than usual. His 11.9 ypc average was among the lowest of his career and well below his finest work in Denver.

The Saints are facing a tricky cap situation, one that is compounded by Drew Breesstill pending retirement decision. Cutting Sanders will save $4MM on the books for 2021 with $6MM left in dead money, unless the Saints disperse the dead money hit via a post-June 1 designation. The Saints also cut Kwon Alexander earlier today so, between those two moves, they’ll free up $17MM in advance of free agency.

Sanders, a two-time Pro Bowler, drew interest from the Cowboys, Jets, Bills, and Packers in his last free agency stint.

Saints To Cut Kwon Alexander

The Saints will release linebacker Kwon Alexander in the coming days (Twitter link via NFL.com’s Ian Rapoport). With no guarantees remaining, the move will save upwards of $13MM against the cap with $0 in dead money. 

Alexander suffered an Achilles tear towards the end of the regular season, ruling him out for the Saints’ playoff run. He finished the year with 27 stops, one forced fumble, and two fumble recoveries in seven games.

Alexander was shipped from San Francisco to New Orleans in November, fortifying the Saints’ front seven and lightening the Niners’ books a bit. The Saints assumed the last two seasons of his original four-year, $54MM deal, though the remainder was non-guaranteed.

The veteran, 27 in August, still has some work to do as he battles back from injury. The timing isn’t ideal as he seeks a new job, but he has a history of quick healing. In 2019, a torn pec threatened to end Alexander’s season in the fall. Somehow, he bounced back in a matter of weeks to join the 49ers for their playoff run. This time around, he expects to be ready for the start of training camp.

Saints Re-Sign RB Dwayne Washington

The Saints have re-signed running back Dwayne Washington, according to Field Yates of ESPN.com (on Twitter). Terms of the deal have not been disclosed.

[RELATED: Saints Franchise Tag S Marcus Williams]

Washington, 27, entered the league as a seventh round pick of the Lions in 2016. When he was pushed off of the roster by the Lions’ crowded running back depth chart in 2018, he joined up with the Saints’ practice squad. For the last three years, he’s served as a backup and special teams player in New Orleans. Now, he’s back for No. 4 to support Alvin Kamara and Latavius Murray alongside the recently re-signed Ty Montgomery.

Washington finished the regular season on a strong note, notching 108 rushing yards in Week 17. All in all, he finished out with 229 yards off of 43 carries.