Saints’ 10 biggest salary impacts in 2023 include 2 players no longer on the team

Good news for everyone: the New Orleans Saints We only have $29.2 million in dead money on the books this year. With the 2023 season kicking off in just a few days, it’s the perfect time to take stock of the Saints’ ledgers and how they stack up against other teams in the league.

Remember, dead money is the amount left over from restructuring contracts with players no longer on the team by converting salaries into signing bonuses and spreading salary cap hits to make the dollars stretch a little more. . But sometimes (well, often for New Orleans) when players are released from their contracts or leave in free agency, those signing bonus payments accelerate to the current year’s cap, which means the Saints they are paying for players who are not on their roster. It’s not ideal, but sometimes it’s the cost of doing business.

And right now the Saints carry just over $29.2 million in dead money, a figure that ranks 12th in the league and represents about 12.9% of their salary-cap commitments this season. That’s a far cry from the dead money charges of 21.2% and 26.5% the Saints have had to weather the past two years. Friends, that’s progress.

But where does all that dead money come from? And where do the payments fall between the team salary caps? More than half of this year’s dead money comes from expiring contracts with David Onyemata ($10.1 million) and Mark Davenport ($7.6 million), who left in free agency. Minor hits are expected for Malcolm Jenkins ($3.9 million), wil lutz ($2.4 million), and deonte harty ($1.4 million), plus a variety of minor charges from other players.

Will things improve on this front next year? That’s hard to say. Players whose expiring deals will leave money dead in 2024 include andrus peat ($13.6 million) and James Winston ($10.6 million), as well as Tre’Quan Smith Smith ($1 million) and Carl Granderson ($80,000). It’s a moot point if either of them re-sign with New Orleans, but that’s the cost of letting them walk in free agency. The Saints will have to make a decision on michael tomastoo, but that’s a much more complicated situation (and therefore a conversation for another day).

All of that said: Here are the Saints’ top 10 salary hits in 2023.

Grant Halverson/Getty Images

Grant Halverson/Getty Images

2023 cap number: $16,937,485

WR Michael Thomas

Stephen Lew-USA TODAY Sports

Stephen Lew-USA TODAY Sports

2023 cap number: $14,453,588

AP Photo/Mark LoMoglio

AP Photo/Mark LoMoglio

2023 cap number: $11,728,317

Jonathan Daniel/Getty Images

Jonathan Daniel/Getty Images

2023 cap number: $11,105,321

DT David Onyemata

Dale Zanine-USA TODAY Sports

Dale Zanine-USA TODAY Sports

2023 cap number: $10,192,555

Peat LG Andrus

Sean M Haffey/Getty Images

Sean M Haffey/Getty Images

2023 cap number: $8,846,000

DE Marcus Davenport

Christopher Mast/Getty Images

Christopher Mast/Getty Images

2023 cap number: $7,626,941

Mark J. Rebilas-USA TODAY Sports

Mark J. Rebilas-USA TODAY Sports

2023 Cap Number: $7,608,000

Stephen Lew-USA TODAY Sports

Stephen Lew-USA TODAY Sports

2023 Cap Number: $7,200,000

Chris Graythen/Getty Images

Chris Graythen/Getty Images

2023 Cap Number: $6,869,000

The story originally appeared on Saints Wire

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