The New Orleans Saints restructured their contract with right tackle Ryan Ramczyk to save more than $10.3 million against the 2023 salary cap, as first reported by NFL Network’s Tom Pelissero.
ESPN’s Field Yates clarified that Ramczyk agreed to convert $12.92 million of his base salary (which had been valued at $14 million) into a singing bonus that will be spread out over the next few years, resulting in current-year savings of $10.336 million. It’s the same tactic the Saints used recently in restructuring their contracts with free safety Marcus Maye and starting center Erik McCoy. Another restructure with Ramczyk was one of several cap-minded roster moves we talked about last week.
This move makes sense — Ramczyk had the third-highest salary cap hit on the team at $21,441,321, so he’ll now be counting against the cap by about $11,105,321. That’s going to help the team reach salary cap compliance, retain talent, and afford new free agents this offseason without having to let go of one of their best players.