Saints Rework QB Drew Brees’ Contract, Free up $2.6M In Cap Space

Field Yates of ESPN reports that the New Orleans Saints restructured the contract of QB Drew Brees and in turn created $2.6 million in available cap space.

• According to Yates, the Saints turned $5.2 million of Brees’ base salary into a signing bonus to accomplish this.
• However, this pushes Brees’ 2016 cap figure up to a staggering $30 million.

The Saints’ cap issues have been well documented over the past few years, so it’s interesting that they would rework Brees’ deal when it results in a $30 million cap figure next year.

As of now, Brees is trying to work his way back from a shoulder injury that sidelined him for last week’s game.

Brees, 36, has two years remaining on his five-year, $100 million contract that included $40 million guaranteed. He stands to make base salaries of $18.75 million and $19.75 million over the next two years.

This season, Brees has thrown for 610 yards while completing 62.8 percent of his passes to go along with two touchdowns and two interceptions.