Marques Colston, New Orleans Saints reportedly re-do contract

The New Orleans Saints, in need of salary-cap room, have completed a restructured deal with wide receiver Marques Colston, Jason La Canfora of CBS Sports reported Wednesday.

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Colston signed a five-year, $36.3 million contract in March. No details of the restructured deal have been released, but ProFootballTalk speculated the 29-year-old receiver might have agreed to reduce his $4.5 million base salary to the league minimum while taking the balance owed to him as a prorated signing bonus to be paid out over the final four years of his contract.

La Canfora also reported that the Saints have offered Will Smith and Jonathan Vilma lesser deals to stay on the team.