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New Orleans Saints Experience GM Mickey Loomis Magic As Restructuring Contracts Makes $34 Million In Salary Cap Space
It seems General Manager Mickey Loomis has worked his magic on the NFL franchise New Orleans Saints. While living up to his esteemed reputation, Loomis was ready to get down to business to reduce Saints’ salary cap problems. The Saints remained severely over the projected salary cap, as Loomis worked towards alleviating that burden on Saturday.
According to NFL Network’s Ian Rapoport, the organization managed to clear out $34 Million in salary cap space by restructuring player contracts. They picked up and made changes to three marquee contracts of wide receiver Michael Thomas, offensive tackle Ryan Ramczyk and guard Andrus Peat.
The report stated that both Thomas’ and Ramczyk’s restructuring netted more than $26 million in cap space. Saints guard Peat’s created an additional $7.8 million in cap space, solving some of their issues. But more magic might be needed on Loomis’ part as the team remains $42 million above the projected salary cap of $202.8 million.
New Orleans Saints expecting more magic from GM Loomis
The Saints are a team who notably had the highest salary cap issue among all the NFL franchises. It was a job only half done for GM Loomis as he aims to retain all their key players while disregarding the possibility of trading players.
The Saints GM used his tried and tested way of converting roster bonus and salary into signing bonus which will be distributed over the years.
Aug 14, 2021; Baltimore, Maryland, USA; New Orleans Saints quarterback Jameis Winston (2) looks at a table on the bench during the first half against the Baltimore Ravens at M&T Bank Stadium. Mandatory Credit: Tommy Gilligan-USA TODAY Sports | Courtesy: Reuters
It’s a risky move if they try to trade any of those players as it will have a damaging impact on the Saints. The changes and maneuvering of the cap happened due to the effects that the last two years have had on the league. The Saints and their GM show ambition to remain competitive and want to capture the NFC South title.
The hunt for a new QB to lead the Saints is another thing that will be on GM Loomis and his plans. It will be interesting how they will be looking for players for one of the most coveted places in football. They might even explore free agency or re-sign their former players who know the demands that come with wearing the Saints jersey.
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