The New Orleans Saints restructured cornerback Keenan Lewis' contract to save some salary-cap space. And they are $3.09 million under the salary cap after all of their latest moves, according to the NFL Players Association.
Lewis did not take a pay cut. He simply converted some of his base salary in 2014 and 2015 into bonus money -- a common procedure in the NFL that allows teams to push the salary-cap costs back into future years.
Lewis’ base salaries dropped from $3.3 million to $1.1 million in 2014, and from $4.1 million to $1.8 million in 2015.
UPDATED: He received a $4.4 million signing bonus as part of the restructured deal, which essentially replaced the salary. He also added slightly to future roster bonuses. Here's the new year-by-year breakdown, according to ESPN Stats and Information:
Signing bonus: $4.4 million
2014: Base salary $1 million, workout bonus $50,000. Salary-cap cost $3.35 million.
2015: Base salary $1.8 million, roster bonuses $700,000, workout bonus $50,000. Salary-cap cost $4.85 million.
2016: Base salary $4.25 million, roster bonuses $700,000, workout bonus $50,000. Salary-cap cost $7.3 million.
2017: Base salary $4.75 million, roster bonuses $700,000, workout bonus $50,000. Salary-cap cost $7.8 million.
So far, Lewis is the only Saints veteran who has done one of these simple restructures this year. In recent years, the Saints have done them with a number of players to carve out cap space.
It’s unclear whether the Saints plan more of them. They could easily push some salary-cap costs back in some of their bigger contracts with players like Drew Brees, Jahri Evans, Ben Grubbs or Marques Colston. But perhaps the Saints figure they have already pushed back enough of the cap costs on those deals and wanted to spread it around the roster a little more.
The Saints also have not touched the contract of defensive tackle Brodrick Bunkley, who is to make $4.5 million in salary and bonuses this season. That seems awfully high, considering Bunkley was used as a part-time player the past two seasons. It’s possible the Saints are still considering asking for a pay cut later in the offseason (like they did with safety Roman Harper last year). Or perhaps they envision a bigger role for Bunkley this year after he finished strong last season.
Thomas' pay cut: Running back Pierre Thomas, meanwhile, did take a pay cut in 2014 when he signed his new three-year deal with the Saints this month. The details are now available after that three-year, $6.9 million contract was officially processed.
Thomas will now make $2.4 million in salary and bonuses this season instead of $2.9 million. But that $2.4 million is all guaranteed. The Saints saved $1.33 million off this year’s salary cap with Thomas’ new deal.
Here’s the breakdown of Thomas’ contract:
Signing bonus: $1.245 million
2014: Base salary $855,000, roster bonus $300,000. Salary-cap cost $1.57 million.
2015: Base salary $2.1 million, workout bonus $50,000. Salary-cap cost $2.565 million.
2016: Base salary $2.2 million, roster bonus $100,000, workout bonus $50,000. Salary-cap cost $2.765 million.
Humber, Morgan deals: Also, the contract numbers are in on the Saints’ new one-year deals with receiver Joe Morgan and linebacker Ramon Humber. Morgan’s deal is for the minimum $495,000 with no bonuses. Humber’s deal is worth $795,000, including a $65,000 signing bonus. However, he will only count $635,000 against the Saints’ cap as part of the NFL rules regarding veteran salaries on minimum-level deals.