The Saints’ two-year walk on a salary cap tightrope has caught up to them. New Orleans fell into the trap of overvaluing talent and doing anything to maintain its core while signing free agents to get "over the hump." The question now: What can the Saints do next as they remake their roster and fix their salary cap?
In a team-by-team cap space breakdown heading into the 2015 season, we look at what teams have spent, what they have left and the decisions they'll face in the near future. No franchise can ignore the implications of their financial decisions and still expect to win, no matter how good the play-calling.
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SAINTS SALARY CAP SPACE REPORT
Financial summary
Salary cap space: $2.6 million
Largest cap charge: Drew Brees, $26.4 million
Best value: Brandon Browner, $2.4 million
Worst value: Brees, $26.4 million
Percentage of cap spent on Top 5 players: 44.8
Percentage of cap spent on dead money: 15
Offseason moves
Key additions: C Max Unger, LB Dannell Ellerbe, CB Brandon Browner, RB C.J. Spiller, DT Kevin Williams
Key losses: TE Jimmy Graham, LB Curtis Lofton, G Ben Grubbs, RB Pierre Thomas, CB Patrick Robinson, WR Kenny Stills
Draft picks: T Andrus Peat, LB Stephone Anthony, LB Hau’oli Kikaha, QB Garrett Grayson, DB PJ Williams, LB Davis Tull, DT Tyeler Davison, CB Damian Swann, RB Marcus Murphy
LINEMAKERS: Saints 2015 favorites in tight NFC South
Spending habits
The Saints’ philosophy generally presents large, prorated signing bonuses (or second-year bonuses) through restructured contracts in order to comply with the salary cap. It leaves the club with more committed money each season than most.
New Orleans began confronting their cap issues by trading away two high-priced players, Graham and Grubbs. The team negotiated new terms for Jahri Evans and Marques Colston with more of a hardline contract stance than in the past. We’re also seeing the Saints shift their focus to defensive spending while pulling back on what had been one of the legaue’s higher-priced offenses.
Still, the Saints made questionable moves this offseason, including the signing of certain free agents at a moderate price. But expect more moves, because heading into 2016, the Saints look to have the second-worst cap position in the NFL.
Looking ahead
Brees, still under contract in 2016, has a cap hit about $6 million higher than any other player in the league — a byproduct of the Saints’ way of doing business. The team has done nothing to lower that number, because any contractual move would likely lower the quarterback's trade value and lead to a massive contract extension to comply with the cap. The situation has inevitably led to speculation about Brees’ future.
Brees, though the catalyst for the franchise’s success of late, may be expected to follow the lead of fellow veterans Peyton Manning and Tom Brady and give up money to benefit the team. Based on production alone, Brees is arguably worth the most in the NFL. And he waited a long time to get a big contract, so it’s hard to see him giving the Brady/Manning discount. New Orleans could save $20 million in cash and cap if they trade Brees next year — a story that will pick up steam the longer he goes without an extension.
MORE: Would you rather trade for Brees or Philip Rivers?
The Saints also have a predicament with linebacker Junior Galette, who they recently signed to a $41.5 million extension. Galette was arrested in January, reported an injury in early June and now is the subject of a physical altercation. He was paid a $12.5 million bonus in March and would cost a mini fortune — $17.45 million spread over two years — against the cap if moved.
If the accusations are found valid, releasing Galette is not an option given how much New Orleans paid. The best recourse is to allow the NFL to determine whether he should be suspended, as the team would recover just over $240,000 for each game missed. If Galette is not suspended and the Saints get off to a slow start, we see a trade possibility. His regular-season salary of $1.25 million this year and $5.1 million next year would make his contract attractive to other teams.
Regardless, expect New Orleans to make more moves this summer to be cap compliant. Moving Thomas Morstead would save $2.45 million in cap space, and removing Rafael Bush would save $1.95 million. Zach Strief may not fit into future plans, and he could save them $2 million. There should be interest in each if made available.