The salary cap gymnastics continue for the Saints, as they have made another contract move. The team has pushed a further $8MM in cap hit down the road, this time via a restructure of left guard Andrus Peat‘s deal, according to ESPN’s Mike Triplett (Twitter link). 
[Related: Saints Create $26MM+ In Cap Space Via Restructures]
New Orleans entered this offseason a projected $74MM over the cap, but it was widely expected that re-working a number of notable players’ deals would at least get them most of the way to compliance. So far, the team has done just that with Michael Thomas and Ryan Ramczyk.
As Triplett details, the Saints have converted $9.73MM of Peat’s base salary into a roster bonus, which is fully guaranteed. They have also added two void years to the deal. As a result, the 28-year-old’s cap hit is now scheduled to jump to just under $18.4MM for the 2023 and 2024 seasons; there will also be a cap charge of nearly $4MM in 2025, the first void year of the restructured pact.
Peat, a first round pick in 2015, has been a mainstay on the Saints’ o-line throughout his career. He has seen snaps at both tackle spots, but has primarily been used as a left guard, a position he has been quite effective at. He signed a five-year, $57.5MM deal to stay in New Orleans in March 2020; he rewarded the team for its investment by earning a third straight Pro Bowl appearance that season.
2021 didn’t go as well for Peat, as he was limited to six games due to a pectoral injury. Still, he figures to be part of the Saints’ long-term plans, so he was a logical choice for a re-worked deal. With more maneuvering still to be done, other cost-cutting moves are likely in New Orleans.
Good. This was an awful contract to begin with, and forced a better and cheaper veteran out in Larry Warford.
I’ve been banging the drum on this contract for a while now admittedly, but Peat was a weird selection to begin with that the normally well run Saints doubled down on with a huge deal. That deal is one of the contributors to their perennial cap tap dance, and should have never been offered to begin with.
I guess I’m confused by your comment? The deal is only getting worse with this restructure. Especially if you did t like the contract in the first place. Just ties him to the team longer with even less ability to cut bait. Why is this “good”?
I meant “good” in that they needed to free up cap space. Sorry, that didn’t make any sense. Good in that they needed the space, but you’re right in that it keeps him bound to the team. They needed to do it this year, and I was waiting on it to happen. I didn’t quite think that through, my apologies.