Theus, 24, is a former fifth-round pick of the 49ers back in 2016. He signed a four-year, $2.59 million contract with the 49ers and was set to make base salaries of 540,000 and $630,000 over the next two years of the agreement when he was waived last September.
The Panthers later claimed Theus off of waivers from the 49ers before placing him on injured reserve in December. San Francisco cut Theus loose back in February and he was once again claimed off of waivers, this time by the Saints.
New Orleans waived Theus with an injury designation a few weeks ago and he reverted to injured reserve after clearing waivers.
In 2016, Theus was active for four games.