Jordan, Morstead Restructure Deals With The Saints
Cam Jordan and Thomas Morstead helped out the Saints by restructuring their deals, and they also helped their bank accounts.
Early Tuesday morning (around 4:00 am), news came out of New Orleans that the Saints reworked both deals to get their cap number for 2016 around $3.03 million.
According to Evan Woodbury of NOLA.com, Jordan's $3.5 million dollar salary dropped to $765,000 for 2016. Don't worry, he's still getting that other $2.73 million in a signing bonus. The same goes for Morstead, who dropped his salary from $3 million to $900,00 and picked up the remaining $2.1 immediately in a signing bonus. Not a bad deposit in the ole bank account.
This continues the trend of General Manager Mickey Loomis converting base salaries into signing bonuses, effectively putting off their credit card bill until farther down the road. When you have Drew Brees, why not try to win today?
It seems like the Saints are finding money between the couch cushions, under the rugs and at the bottom of all the lockers this offseason. They threw a chunk of change at Coby Fleener, were somehow able to match Chicago's offer to Josh Hill, brought Nick Fairley and James Laurinaitis into town and still found a way to give Sean Payton a fat contract extension.
Let's all just be thankful the NFL decided to increase the salary cap, otherwise the Saints would have been forced to pick up guys off the streets.