On Saturday morning, ESPN’s Field Yates reported that Michael Thomas agreed to a restructured contract with the Saints.
As part of this restructured deal, Thomas’ base salary for 2023 has been reduced from $15.5 million to $1.165 million. However, he has a $31.755 million roster bonus for the 2024 league year. That bonus becomes fully guaranteed on March 17 of this year.
That means the Saints have until the third day of the 2023 league year to make a decision on Thomas.
The majority of the NFL world is convinced the Saints will either release or trade Thomas this offseason.
“This sure seems like a precursor to Saints releasing or trading Michael Thomas and being able to spread out cap hit,” Mike Triplett of NewOrleans.Football tweeted. “Thomas gets a nearly $1M bonus in exchange. In that sense, it’s somewhat of a ‘win-win.’ But still unfortunate that injuries marred such a prolific partnership.”
“Michael Thomas Era in Nola is over,” Ralph Malbrough said. “That’s what this restructuring means. I’m sad. He was incredible and that extension a year in looked like a bargain. Never thought it’d end like this. It stinks.”
“Really had hoped the Saints found a way to keep Michael Thomas,” one fan said. “It’s likely heading towards a trade/cut. Shame how all of this will end between Thomas and the Saints.”
“The most saints thing ever is if Michael Thomas plays 17 games and has 1500 yards receiving somewhere else next year,” another fan wrote.
Thomas appeared in three games for the Saints this season. He had 16 receptions for 171 yards and three touchdowns.
Perhaps a change of scenery is exactly what Thomas needs to revitalize his career.