Here’s the first domino of the New Orleans Saints’ offseason — and their 2022 campaign still isn’t over. ESPN’s Field Yates reports that wide receiver Michael Thomas agreed to a restructured contract with the team that significantly lowers his 2023 salary cap hit by dropping next year’s base salary from $15.5 million down to the league minimum at $1.165 million, folding the difference into a massive roster bonus of $31.755 million.
Still with me? It gets more complicated. That $31.755 million won’t be paid out until 2024, but it becomes fully guaranteed on March 17, 2023 (the third day of the new league year). To incentivize Thomas into agreeing to this deal and remain compliant with CBA rules, he was given a signing bonus equal to his normal game check of $902,941. So what’s the big-picture idea here?
