According to Ian Rapoport, the Saints specifically converted Lattimore‘s $10.2M fifth-year option to a $990,000 base salary and the rest in a roster bonus that will be spread over voidable years.
Rapoport adds that the Saints are still working on an extension with Lattimore.
New Orleans has been up against the cap all offseason and this was one of the few options they had to get a sizable amount of cap room at this point.
Lattimore, 25, is a former first-round pick of the Saints back in 2017. He was entering the final year of his four-year, $15.35 million contract and set to make a base salary of $1.53 million for the 2020 season when the Saints exercised his fifth-year option.
Lattimore is set to make $10.244 million under the fifth-year option in 2021.
In 2020, Lattimore appeared in 14 games for the Saints and recorded 62 tackles, two interceptions and 11 passes defended. Pro Football Focus had him rated as the No. 70 cornerback out of 121 qualifying players.