NFL Media’s Ian Rapoport reports that the deal is a three-year agreement worth up to $34.5 million. The base of the deal is $30.5 million, with $21.25 million guaranteed.
Johnson, 28, was set to count $6.5 million against the salary cap this year for the Saints had he hit the free agency market. With a roughly $10 million per year deal, his 2025 cap hit will likely fall below his expected dead cap acceleration. As a result, the Saints likely saved money by making this move.
New Orleans has been stockpiling cash as the official start to free agency nears. Moves like this draw ire because fans often like new faces, however, when new faces generate money saved, the value exchange is clear.
Johnson reeled in career highs in receptions and receiving yards while appearing in 17 games in 2024. He will look to build on that in 2025 and beyond. Saints general manager Mickey Loomis mentioned that the team will likely address tight ends in multiple ways while speaking with local media at the NFL Combine. Expect New Orleans to continue to invest at the position this offseason.
The former Oregon Duck had 50 receptions for 548 receiving yards and three touchdown catches in 2024.
