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The Saints remain well over the 2021 salary cap, but they’re chipping away at it.
Today they’ve reached agreements with linebacker Demario Davis and defensive end Cameron Jordan to restructure their contracts, according to multiple reports.
Jordan was scheduled to have an $18.9 million cap hit, the biggest on the team. Davis was scheduled to have a $10.8 million cap hit. The two moves are slated to shave more than $13 million off the Saints’ cap in 2021.
Restructuring contracts to create short-term cap space while pushing more money into the future is something the Saints have done a lot of in recent years. This year they have a bigger challenge than usual because the salary cap will shrink thanks to declining NFL revenues from the COVID-19 pandemic.
The Saints still have plenty of work to do to get under the cap before the league year starts on March 17.