Saints Restructure Demario Davis, Cam Jordan Contracts To Gain Over $13 Million In Cap Space
Little by little, Mickey Loomis is making progress.
In their latest move to free up cap space, the New Orleans Saints have reportedly restructured the contracts of two defensive staples, DE Cameron Jordan and LB Demario Davis.
The move was first reported on Twitter by NFL Insider Ian Rapoport.
Soon, tweets began to roll out from local reporters who cover the Saints, confirming Rapoport's report.
NOLA.com's Amie Just says the restructures will save the Saints $13.4 million against the salary cap. This is good news being that Jordan's cap hit toward the team alone was just south of $19 million for 2021. Cam is under contract through 2023 but his cap hit was one of the largest on the team.
Davis was originally due to see $10.8 million for 2021. Like Jordan, Davis is under contract until 2023.
Saints GM Mickey Loomis continues to chip away, and according to Just's report, the Saints are still $58.9 million over the projected NFL salary cap. While we haven't heard an official announcement, we do know it will not be any lower than $180 million per agreement between the NFL and the NFLPA.
In addition to freeing up cap space, this news also shows that the Saints are holding onto two pillars of their defense, both on and off the field, as Davis and Jordan are instrumental leaders on a defense that has been much improved over the last few seasons.
This move is the latest in a mixture of offseason restructuring and releases including some contract news just last night on Saints RB Ty Montgomery.
For now, we simply trust in Loomis.