We’re still a ways out from the NFL setting the salary cap for 2024 — it’s expected to be confirmed during or after the league’s Scouting Combine in Indianapolis next week — but the early murmurs are positive for teams riding tight against the spending limit like the New Orleans Saints.
Pro Football Talk’s Mike Florio shares that one source believes the cap will fall “closer to $250 million” than the previously-expected $243 million. Whether or not Florio’s information is accurate, there is a sentiment around the league that this year’s salary cap will rise further than anticipated.
That’s big news for the Saints, who are spending more money than any other team: Over The Cap estimates that they have more than $325 million on the books right now. A series of restructures following their usual strategy are expected, deferring payments into later years for accounting purposes, which will help the team reach cap compliance and then some. If they’re compelled to open up resources this year and sign more players, they can get under the cap by as much $30 million by maxing out their credit cards.
As always, the question is whether that aggressive approach is worth it. The two most important people in their organization, head coach Dennis Allen and quarterback Derek Carr, have never won a playoff game. The roster is aging — particularly on defense — and there’s an argument to be made that they should play it more conservatively, pay off what they can now, and rebuild for sustained success.
Just don’t expect it. General manager Mickey Loomis is moving desperately to prove he was as responsible for the team’s success when Sean Payton and Drew Brees were in town, and getting the Saints to the playoffs without either of them would help his case. Fans should look for more big moves in New Orleans as the Saints chase what’s become an elusive NFC South title.
