Around the NFL

Saints create nearly $34M in salary-cap space by restructuring Michael Thomas, Ryan Ramczyk, Andrus Peat contracts

Published: Feb 26, 2022 at 01:59 PM

NFL.com

Mickey Loomis is at it again.

The Saints general manager is no stranger to salary-cap maneuvering, and with New Orleans severely over the projected salary cap, Loomis went to work on alleviating that burden Saturday.

NFL Network Insider Ian Rapoport reported the Saints created nearly $34 million in cap space by restructuring three marquee contracts: wide receiver Michael Thomas, offensive tackle Ryan Ramczyk and guard Andrus Peat. Rapoport adds that Thomas' and Ramczyk's restructuring netted more than $26 million in cap space, while Peat's created an additional $7.8 million.

New Orleans now sits roughly $42 million over the projected salary-cap of $202.8 million after Saturday's adjustments, per Spotrac.

With free agency just weeks away, look for the Saints and Loomis to find more ways to fix the team's cap pains.

pic.twitter.com/ltocbWo0XZ
— Michael Thomas (@Cantguardmike) February 27, 2022

Related Content

news

Eagles center Cam Jurgens on taking over for Jason Kelce: 'I'm just trying to be myself'

With the Hall of Fame-sized vacancy left by the retirement of Jason Kelce, things have changed quite a bit in a short time for Cam Jurgens, the Eagles' next starting center.

news

Former Ravens RB J.K. Dobbins signing one-year deal with Chargers

Former Ravens RB J.K. Dobbins is signing a one-year deal with the Chargers, NFL Network Insider Tom Pelissero reported per the running back's agency.

news

New Bears safety Jonathan Owens, wife Simone Biles getting acclimated to Chicago: 'The city has embraced us'

New Bears safety Jonathan Owens and wife Simone Biles, a multi-time Olympic medalist, are getting acclimated to Chicago in a hurry.

news

Ravens' Roquan Smith on ex-teammate Patrick Queen joining Steelers: 'It will be good to see him twice a year'

Baltimore Ravens linebacker Roquan Smith says "it will be good" to see former teammate Patrick Queen twice a year in a Steelers uniform.

news

NFL news roundup: Latest league updates from Wednesday, April 17

NFL.com keeps you up to date with all of the latest league news from around the NFL. Visit NFL.com's transaction hub for a daily breakdown.

news

Browns returning to white facemasks beginning in 2024

The Browns on Wednesday announced a helmet change that harkens back to Cleveland's loveable teams throughout the 1980s.

news

Aidan O'Connell ready to compete for Raiders' starting QB job

Las Vegas Raiders second-year signal-caller Aidan O'Connell is embracing the quarterback competition for the starting role in 2024.

news

Browns CB Greg Newsome has heard trade rumors, but doesn't 'pay attention'

Browns cornerback Greg Newsome II has heard the rumors about his potential trade availability, but the former first-round pick is paying no mind as he prepares for his fourth NFL season.

news

Eagles WR DeVonta Smith on playing with A.J. Brown: It's good to have 'two guys who want to be the alpha'

Eagles wide receiver DeVonta Smith said Tuesday that having two dominant receivers is a benefit, not a detriment, when it comes to playing alongside AJ. Brown in Philadelphia.

news

Lions QB Jared Goff on contract talks: I love it in Detroit, 'would love to be here for a long time'

Jared Goff and the Lions have been crystal clear in their intentions to continue their union beyond 2024. Entering the final year of his contract, Goff reiterated that he wants to remain in Detroit as he participates in the voluntary offseason program.

news

Jaguars QB Trevor Lawrence has had contract talks but 'not really my focus': 'My job isn't going to change whether I get extended or not'

Jacksonville quarterback Trevor Lawrence isn't worried about getting a contract extension done at this point, though he's clear that he believes good days are ahead for him and the franchise.

news

Cowboys EVP Stephen Jones explains quiet offseason: We're 'looking towards signing our own guys'

Cowboys EVP Stephen Jones pointed to the club's onus on signing its current starts to long-term contracts as one of the reasons for such a quiet offseason.