Pelissero says this is a simple restructure and Brees is still set to make the $23 million in cash he was before the reworked deal for the 2019 season.
It does, however, allow Brees’ contract to void after the 2019 season, after which the Saints will carry $21.3 million of dead money on their salary cap whether Brees is back with the team or not.
The Saints have been linked to some notable free agents such as TE Jared Cook and DE Ziggy Ansah in recent days and are reportedly trying to re-sign QB Teddy Bridgewater, so this extra cap space could go a long way for them.
Brees, 39, is a former second-round pick of the Chargers back in 2001. After five years with the Chargers, Brees signed on with the Saints as a free agent in 2006.
Brees has spent the past 12 seasons in New Orleans and is entering the final year of his two-year, $50 million contract that includes $27 million guaranteed.
In 2018, Brees appeared in 15 games for the Saints and completed 74.4 percent of his passes for 3,992 yards, 32 touchdowns and five interceptions. He also rushed for 22 yards and four touchdowns. Pro Football Focus has him rated as the No. 1 quarterback out of 38 qualifying players.
We have him featured in our Top 100 – 2018 NFL Free Agents list.