You’ll have a hard time finding a more unique contract around the NFL than the one Michael Thomas signed with the New Orleans Saints last week. While it’s technically a two-year extension tying Thomas to the Saints for 2023 and 2024, the deal is structured so that both sides will return to the negotiating table this time next year.
Per ESPN’s Katherine Terrell, Thomas will trigger future roster bonuses of $31.7 million, $28.7 million, and $58.6 million if he’s on the roster by a certain date next offseason — NewOrleans.Football’s Mike Triplett clarifies this as the third day of the 2024 league year, which would have been March 18 this year. That means the Saints have a deadline to circle back and either renegotiate this contract again or let Thomas go.
