The Saints have restructured the contracts of LB Demario Davis and TE Taysom Hill by converting base salary into a signing bonus, creating $12.724M in 2023 cap space, per source.
— Field Yates (@FieldYates) March 4, 2023
Bang: the New Orleans Saints completed another big step towards getting under the 2023 salary cap by restructuring their contracts with Pro Bowl linebacker Demario Davis and do-it-all tight end Taysom Hill, per ESPN’s Field Yates, saving more than $12,724,000 against the 2023 salary cap.
As is often the case for these restructures in New Orleans, both players will receive a large chunk of their initial base salary in the form of a new signing bonus, which will toll over future seasons for accounting purposes.
This was another expected move, and it gets the Saints within punching distance of the salary cap — pretty soon they’ll be looking to open up spending-room beneath it, not just complying with league rules in reaching it. New Orleans is still over the cap by an estimated $18.1 million, but they can get in the clear with further restructures for cornerback Marshon Lattimore (saving over $10 million) and defensive end Cameron Jordan (opening up another $10 million), among other moves.
