Report: Saints restructure Erik McCoy’s contract

By Ross Jackson

The annual race to get under the salary cap is under way for the New Orleans Saints. One of the young starters that was expected to see his contract addressed was taken care of on Wednesday.

Per Nick Underhill of NewOrleans.Football, the Saints have restructured the contract of starting center Erik McCoy. 

The move will save up to $7.114 million if it is a full restructure with his $500,000 roster bonus included, which is expected. Though partial restructures are not out of the ordinary, with McCoy (27) being such a young and established player, a simple approach is likely and palatable for the team’s future as well.

There will be several more cap-saving moves on the way. Further restructures to other young starters like guard Cesar Ruiz and defensive end Carl Granderson are also expected, and the Saints will surely find other ways to creatively approach their salary cap overage.

The biggest move is still available as well, which is the inevitable address of quarterback Derek Carr’s contract. 

McCoy’s contract adjustment along with Tuesday’s termination of running back Jamaal Williams could have the Saints under $40 million in salary cap overages. A full restructure to Carr would immediately save them about $30.1 million.

New Orleans is nearing cap compliance, but still has a way to go.