National media outlet expects Saints to release key player
A long-time New Orleans Saints player might be on his way out of The Big Easy. Pro Football Focus believes the Saints will designate former Pro Bowl wide receiver Michael Thomas as a post-June 1 release this offseason. From PFF: All indications are that the team plans to designate wide receiver Michael Thomas, who had his contract […]
A long-time New Orleans Saints player might be on his way out of The Big Easy.
Pro Football Focus believes the Saints will designate former Pro Bowl wide receiver Michael Thomas as a post-June 1 release this offseason.
All indications are that the team plans to designate wide receiver Michael Thomas, who had his contract tweaked, as a post-June 1 release on the first day of the 2023 league year (March 15). This is why, despite the fact Thomas is still under contract as of today, we have him listed on our top 100 free agents list.
This shouldn't come as a surprise.
Thomas is an elite player, but he's barely played over the last several seasons.
The former Ohio State standout hasn't played a full season since 2019 due to various injuries. He's only played in 12 games since the start of the 2020 season (that includes two playoff games).
At this point, New Orleans can't count on Thomas to make any sort of contribution to the team.
If the Saints release Thomas with a post-June 1 designation, they'll be hit with a $12 million dead cap hit in 2023 and a $14.1 million dead cap hit in 2024. New Orleans would save just $1.5 million in cap space in 2023 by releasing Thomas.
This move, however, would be to help the Saints in 2024 more than in 2023. If Thomas is still on the roster on March 17 next month, his $31 million roster bonus for the 2024 season would become fully guaranteed.
It seems unlikely that New Orleans will commit to paying out that kind of cash for a player who has barely seen the field the last three years.
And because of that bonus, I'd be shocked if Thomas is in a Saints uniform this fall.
Featured image via Eric Hartline-USA TODAY Sports
