In perhaps one of the final moves he’ll make as a member of the New Orleans Saints, veteran quarterback Drew Brees agreed to reduce his salary for the 2021 season from $25 million to a little over $1 million.
Jason Fitzgerald of Over The Cap was first to report the news of Brees’ restructured contract on Friday night. It’s a move that’ll free up nearly $24 million in cap space for the Saints.
New Orleans is expected to be roughly $90 million over the projected salary cap for the new league year, so Brees’ renegotiated deal will help bring that number down dramatically. He’ll hold a cap charge of $12.25 million until June 1, which then drops to $11.15 million if he officially retires from the NFL. That being said, the legendary quarterback would still have a $11.5 million cap charge the following year.
So, what does this mean for Brees’ future with the Saints? Well, the writing is on the wall with the move. Though he hasn’t officially retired just yet, the fact that he restructured his contract to this magnitude lets you know at where his mind is at.
Brees has restructured his contracts in the past to save New Orleans a bit of cash, but this is taking things to a whole different level. That’s because, as everyone around the league expects, the 42-year-old quarterback is just about ready to walk away from the game of football.
Per league source the #Saints have renegotiated Drew Brees’ contract to open up nearly $24M in cap space for 2021.
— Jason_OTC (@Jason_OTC) February 6, 2021
An official decision regarding Brees’ future is expected to arrive in the next week or so, according to Sean Payton.
Whenever he hangs up his cleats, Brees has a nice gig with NBC Sports waiting for him. He’ll call Notre Dame football games for the network.
As for his career, Brees will go down as one of the greatest quarterbacks to ever play in the NFL.
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