Field Yates reports that the Saints and veteran TE Nick Vannett agreed to a renegotiated deal that includes his base salary dropping from $2.6 million to $1.035 million.
Yates adds that the Saints will create $1.55 million in cap space with this move.
Vannett, 29, is a former third-round pick in the 2016 NFL Draft by the Seahawks out of Ohio State. He was in the final year of his four-year, $3,056,880 rookie contract when Seattle traded him to the Steelers a few years ago.
Vannett finished out his contract before agreeing to a two-year, $5.7 million contract with the Broncos before being released. He then signed a three-year deal with the Saints.
In 2021, Vannett appeared in seven games for the Saints and caught nine passes for 133 yards receiving and a touchdown.
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