With the league’s recent release of the new salary cap numbers and the rapid approach of free agency and the draft, NFL teams are working to clear up cap space to help add significant talent to their rosters for the 2024 NFL season. The Saints made a number of moves recently to reflect this pattern.
New Orleans agreed to a restructured deal with defensive end Carl Granderson, per Tom Pelissero of NFL Network. The team converted a $9MM roster bonus that Granderson was due into a signing bonus spread over a five-year period. The move reduced his cap hit in 2024 from $12.45MM to $5.25MM, freeing up $7.2MM of cap space.
The team applied the same tactic to interior offensive lineman Cesar Ruiz‘s contract, per Pelissero, converting his $8MM roster bonus into a signing bonus and adding a void year to the end of his deal. The result saw Ruiz’s cap number drop from $10.85MM to $4.45MM, freeing up $6.4MM more of cap space.
One more time, the Saints got another player to sign a restructured deal this week. This time, star pass rusher Cameron Jordan agreed to convert $11.79MM of his 2024 base salary into a signing bonus, according to Nick Underhill of NewOrleans.Football. Jordan’s base salary was reduced to $1.21MM, and the team cleared $9.43MM of cap space as a result.
Here are a couple of other restructured deals from around the league:
- The Browns got in on the party, agreeing to a restructured deal with cornerback Denzel Ward, per Pelissero. Cleveland converted $14.2MM of Ward’s base salary into a signing bonus and added a void year to the end of his contract. Ward’s 2024 salary is now $1.13MM as a result, and the move cleared $11.36MM of cap space for the upcoming league year.
- Finally, the Bills were the other team this week to work towards more cap space. Offensive guard Connor McGovern agreed to a reworked deal that would convert $4.68MM of his 2024 base salary into a signing bonus and add two void years to the end of his contract, according to Pelissero. The restructure clears up $3.74MM of cap space for Buffalo.