Time is ticking for the Saints and Michael Thomas
He and the Saints have a lot to figure out.
The New Orleans Saints have been busy this week. They may not be signing many free agents off the bat, but they are clearing cap space by restructuring contracts. Their biggest move to come may be finishing a contract restructure with wide receiver Michael Thomas.
If they keep his contract as-is, Thomas will receive a $200,000 roster bonus tomorrow at 3 p.m. On Friday, his 2024 roster bonus of $31 million would become guaranteed.
That seems like an unlikely outcome, so the clock is ticking on a potential contract restructure.
The Saints must take care of his contract in order to fully understand what else they must do in regards to cap space.
Thomas, seemingly, is staying in New Orleans for at least one more season. He was a big factor in Derek Carr's decision to join the Saints. The quarterback mentioned it during his introductory press conference with the team.
Carr and the Saints still believe that the former Pro Bowler can be a massive weapon on their offense.
Apparently, a contract extension has been in the works for Thomas, and Carr is vying for the two sides to get it done now.
“When he started recruiting and talking to me, he wasn’t even trying to recruit me,” Carr said, via Katherine Terrell of ESPN. “He was just like, ‘When are we getting to work? We’re wasting time. Time is ticking.’ I was like, ‘Dude, I’m the same way. We’ll get there.’ But I think that our relationship has grown through the process, and I’m looking forward to hopefully making that relationship grow even stronger.” Carr and Thomas had several phone conversations, and the quarterback told Saints General Manager Mickey Loomis that he felt like he and Thomas could “go out there and face the world.” Carr now is trying to recruit Thomas back to New Orleans. The Saints have until March 17 to get a new deal done with Thomas or they will have to cut him to avoid a $31.7 million roster bonus. A report this week indicated the sides are making progress on a contract.
It will be interesting to see how the Saints and Thomas work it out, so both sides can succeed. Regardless, they must make it happen quickly.
