Update:
According to Tom Pelissero of USA Today, Saints LB Dannell Ellerbe took a $2.7 million pay cut to be back with the team.
He now stands to make a base salary of $2.5 million in 2016, which is down from $4.1 million. $1.7 million of his base salary is fully guaranteed.
Field Yates reports that the Saints cleared $2.7 million in cap space with this move.
Should Ellerbe play 80 percent of the team’s snaps in 2016, his 2017 year would void, according to Yates.
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Mike Triplett of ESPN reports that the Saints have restructured LB Dannell Ellerbe‘s contract, which will allow him to remain in New Orleans.
This implies that Ellerbe took a pay cut to be back with the team, but the contract details aren’t available as of now.
Ellerbe, 30, came over in a trade with the Dolphins last year that sent WR Kenny Stills to Miami. He is entering the fourth year of his five-year, $34.75 million contract that included $14 million guaranteed and was set to make base salaries of $4.1 million over the final two years of the agreement.
According to OverTheCap.com, the Saints could free up $2,107,500 in cap space by restructuring Ellerbe’s contract.
In 2015, Ellerbe was limited to appearing in six games and recording 39 tackles, a forced fumble, a recovery and a pass defense for the Saints.
We’ll have the contract details posted as they’re available.
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