Facing cap trouble, the New Orleans Saints were able find a bit of a respite on Monday.
According to ESPN’s Field Yates, “The Saints have converted $10M of C Erik McCoy’s 2023 compensation into a signing bonus (while adding a void year), creating $8M in cap space, per source.”
The NFL world reacted to the Saints’ move on social media.
“All this to sign Derek Carr,” a user replied.
“Everyone’s [favorite] time of year,” another said.
“When are we going to do this?” a Chargers fan asked.
“Annual Saints cap space shenanigans.”
“Oh Saints doing their yearly Salary Cap Voodoo [trademark] I see,” a fan tweeted.
“No team kicks the cap down the road like the Saints,” commented Michael David Smith. “Could it work this year? Sure, in the sense that this could help them be ‘mediocre’ instead of ‘bad’ in a year when 7-10 could win the NFC South. Is it the right approach to win a Super Bowl? No.”
“I imagine this was a conversion of McCoy’s roster bonus, which is a unique way the Saints have been planning ahead on working within the salary cap in recent years,” Ross Jackson speculated. “Instead of a $10m charge in 2023, the Saints now take on $2m for each of the next 5 years for a young, core piece.”
The first of many decisions for the Saints this offseason.