Saints an estimated $2.6 million under cap

The New Orleans Saints are now an estimated $2.6 million under the salary cap, according to ESPN NFL Insider John Clayton, after the release of veteran defensive players Will Smith, Roman Harper and Jabari Greer were officially processed.

It appears none of them were designated as “post-June 1” releases, which means all of their remaining signing bonus money should count against the Saints’ salary cap this year.

Smith and Greer were listed as “failed physical,” which is not surprising since both are rehabbing season-ending knee injuries they suffered last season. I’m not sure if either will require an injury settlement that could later affect the Saints’ cap number. Smith should definitely be healthy in time for offseason camps if he signs elsewhere. Greer’s recovery could last longer into the summer since his injury came in November.

Also this week, the Saints re-signed exclusive rights free agent cornerback Trevin Wade to a $570,000 contract. Wade, 24, joined the Saints late last season and appeared in four games, including the playoffs.