Field Yates is reporting that the New Orleans Saints are restructuring the contracts of WR Michael Thomas and RT Ryan Ramczyk in order to create more cap space.
Yates adds that the team has converted $14.565 million of Thomas’ salary for 2022 and $18.206 million of Ramczyk’s salary into signing bonuses in order to create $26.217 million in space.
Ian Rapoport adds that the Saints also reworked G Andrus Peat’s contract, which brings the total cap savings for the Saints to over $34 million this year.
Thomas has been on the PUP injury all season with an ankle injury that initially was suffered in Week 1 of 2020. Thomas had surgery last June that was expected to keep him out the first couple of months of the season.
However, Thomas later announced in November that he was done for the season and undergoing another surgery.
Thomas, 28, was drafted by the Saints in the second round out of Ohio State in 2016. He was entering the final year of a four-year, $5.118 million rookie contract when he agreed to a five-year, $100 million extension in 2019.
Thomas has two years and $45,448,043 remaining on his contract.
In 2020, Thomas appeared in seven games for the Saints and caught 40 passes for 438 yards receiving and no touchdowns.
Ramczyk, 27, is a former first-round pick of the Saints back in 2017. He was entering the final year of his four-year, $8.891 million contract when the Saints exercised his fifth-year option for 2021.
Ramcyzk was set to make $11.064 million for the 2021 season on the fifth-year option when he agreed to a five-year, $96 million extension with the Saints last summer.
In 2021, Ramczyk appeared in 10 games for the Saints, making 10 starts at right tackle. Pro Football Focus had him rated as the No. 8 tackle out of 83 qualifying players.
We will have more news on Thomas, Ramczyk, and the Saints’ salary cap situation as it becomes available.
Looking for the latest NFL Insider News & Rumors?
Be sure to follow NFL Trade Rumors on TWITTER and FACEBOOK for breaking NFL News and Rumors for all 32 teams!
