NEW ORLEANS (WGNO) — The New Orleans Saints are taking first steps in something every NFL team has to accomplish by March 15: getting under the cap.
According to ESPN’s Field Yates, the Saints have restructured safety Marcus Maye’s contract, converting $6.07 million of his 2023 compensation into a signing bonus. This move by the front office will save around $4.85 million in cap space.
The Saints are currently second-to-last among NFL teams in cap space, but these numbers are inevitably changing each day as all 32 teams must work with $224.8 million in 2023. The amount is a new league record, increasing from the 2022 cap of $208.2 million. On March 15, 2023, the NFL’s Top 51 Rule becomes effective, meaning all clubs must be under the 2023 Salary Cap prior to 4:00 p.m., New York time.
Below is a list of the bottom six NFL teams, according to OverTheCap.com:
27 Buffalo Bills $-20,511,462
28 Minnesota Vikings $-21,079,469
29 Tennessee Titans $-23,687,933
30 Jacksonville Jaguars $-32,531,191
31 New Orleans Saints $-52,525,434
32 Tampa Bay Buccaneers $-55,714,949