Saints Rework WR Michael Thomas’ Contract, Pick Up $8.7M Of Cap Room

Ian Rapoport of NFL Media reports that the Saints have restructured the contract of WR Michael Thomas and in turn created $8.7 million of cap space. 

The Saints have already made several moves ahead of free agency and this will leave them around $17 million or so over the cap, so even more work is needed before next week to get cap compliant.

Thomas reportedly plans to undergo ankle surgery this offseason to fix his torn deltoid ligament and other damage. 

Thomas suffered the injury Week 1 and battled through it for the entire season, though it limited him to just seven games and only 40 catches the year after setting the NFL record for receptions. 

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. 

In 2020, Thomas appeared in seven games for the Saints and caught 40 passes for 438 yards receiving and no touchdowns.