The New Orleans Saints cleared more than $26 million in cap space by restructuring the contracts of wide receiver Michael Thomas and offensive tackle Ryan Ramczyk, ESPN reported Saturday.
The Saints entered the offseason $75 million over the projected 2022 salary cap, the most of any team in the NFL, and more moves are anticipated in the coming days.
The Saints converted $14.6 million of Thomas’ scheduled salary and roster bonuses into a signing bonus. They did the same with $18.2 million of Ramczyk’s money.
The move with Thomas likely indicates New Orleans isn’t planning to trade the three-time Pro Bowl selection, who missed the entire 2021 season with an ankle injury.
Thomas, who turns 29 on March 3, was the NFL’s Offensive Player of the Year in 2019 and has 510 receptions for 5,950 yards and 32 touchdowns in 70 games over five seasons with the Saints.
Ramczyk, 27, has played in 73 games (all starts) over five seasons since New Orleans drafted him in the first round in 2017. He was an All-Pro selection in 2019 and appeared in 10 games in 2021.
–Field Level Media