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Saints Restructure A Number Of Contracts, Free Up Some Much Needed Cap Space

Jason La Canfora reports that the New Orleans Saints have restructured the contract of WR Marques Colston.

Colston, 29, received a five-year deal worth $36.3 million last year. He had a $4.5 million base salary coming his way next season.

Mike Florio of PFT reports that $2.8 million of that figure was converted to a signing bonus that will be paid out over the duration of the deal. Florio adds that this should free up $2.1 million in cap space for New Orleans.

Jahri Evans

Pat Yasinskas of ESPN.com reports that a league source has informed him that the Saints have also restructured the contract of G Jahri Evans.

The deal will create $3.12 million in cap space as  Evans receives a $4.16 signing bonus, while agreeing to reduce his 2013 base salary of $7.2 million to $3.04 million. This will reduce his cap figure to $6.74 million.

Ben Grubbs

The also reworked G Ben Grubbs’ contract so that his 2013 base salary of $5.2 million will be reduced to $1.2 million.

The remaining $4 million will probably be turned into a signing bonus that’s pro-rated over the final four years of his deal.

This should free up another $3 million in cap space for the Saints.

David Hawthorne

The Saints converted David Hawthorne’s $3 million roster bonus into a signing bonus.

Bonus will be pro-rated over the final four years of his contract and should free up $2.05 million in cap space.

Saints Notes

La Canfora mentions that Saints have offered LB Jonathan Vilma and DE Will Smith “lesser deals” to remain with the team.

 

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