Field Yates reports that the Saints have converted $10 million of C Erik McCoy‘s 2023 salary into a signing bonus in order to create $8 million in cap space.
McCoy, 25, was drafted by the Saints in the second round out of Texas A&M in 2019. He’s entering the final year of a four-year, $6.1 million deal that includes a $2.4 million signing bonus.
McCoy was set to make a base salary of $1.323 million in 2022 and was scheduled to be an unrestricted free agent in 2023 when the Saints signed him to a five-year, $63.75 million contract in September.
In 2022, McCoy appeared in and started 13 games for the Saints at center.
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