Saints converted over $8 million of Marcus Davenport’s $9.553 million base salary into a signing bonus to create $6.8144M in 2022 salary cap space, per source.
— Adam Schefter (@AdamSchefter) March 15, 2022
The New Orleans Saints have just created more salary cap space by restructuring defensive end Marcus Davenport’s contract, per ESPN’s Adam Schefter. Over $8 million of Davenport’s base salary for the 2022 NFL season was converted to a signing bonus and, for the most part, deferred until next season for accounting purposes.
The move created over $6.8 million in cap space this year. With estimates of New Orleans having prior been over the salary cap by as much as $9.4 million (after issuing a restricted free agent tender to wide receiver Deonte Harty), this move brings the Saints within reach of cap compliance. Estimates have them over the cap by as little as $2.7 to $2.9 million.
It is safe to assume that more of these types of restructures will be conducted in the days ahead as the team looks to add players via free agency or trade. New Orleans has made it a practice when signing players to allow for this type of convenient restructuring process that enables cap flexibility.
With players like wide receiver Jarvis Landry and quarterback Deshaun Watson on the Saints’ radar, they will need to create some financial space in order to make it work. And let’s not forget that contracts with Terron Armstead and Jameis Winston will void at 3 p.m. CT on Wednesday, the start of the new league year, adding up to $15.9 million in dead money to their books. The Saints have more work to do.
