The New Orleans Saints are adjusting their cap
The New Orleans Saints came into the offseason about $60 million in the red. The team knew they needed to make some adjustments to get their cap space down for the 2023 season. The Saints need more players on their roster next season than those they already had inked to deals, especially at quarterback. One Saints player took a pay cut as the team looked to save cap space.
The Saints adjusted safety Tyrann Mathieu’s contract for 2023 on Friday. However, after the move, the team was still about $30 million over the cap. The team has a long way to go to get out of the red and have enough cap space for a free-agent quarterback prize. The Saints appear to be in the running to land four-time Pro Bowl quarterback Derek Carr. The team made another move that will get the cap number down.
According to Tom Pelissero with the NFL Network, the Saints kicker Wil Lutz took a pay cut. The Pro Bowl kicker accepted a cut of $1.5 million. He will still make $2.2 million next season, $500,000 coming from a signing bonus, and can earn $750,000 in incentives.
#Saints kicker Wil Lutz took a $1.5 million pay cut. Now due $2.2M in 2023, including a $500,000 signing bonus, with a chance to earn back $750K in incentives. Another cap-clearing move for New Orleans.
— Tom Pelissero (@TomPelissero) February 25, 2023
$1.5 isn’t going to take the Saints out of the red. But it is one step that can help get them there.
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