NEW ORLEANS, LOUISIANA – JANUARY 17: Marshon Lattimore #23 of the New Orleans Saints shows his teeth on the field prior to the NFC Divisional Playoff game against the Tampa Bay Buccaneers at Mercedes Benz Superdome on January 17, 2021 in New Orleans, Louisiana. (Photo by Chris Graythen/Getty Images)
The Saints need to cut money fast and are reportedly pursuing extensions for Marshon Lattimore and Ryan Ramczyk that would ease the cap situation in 2021.
The New Orleans Saints are in terrible financial shape right now. They are nearly $50 million over the projected cap and that means some notable players are going to be cut or traded to free up money.
Another option is to sign players to extensions that pushes money down the road into future years. That is reportedly what the team is trying to do with both Marshon Lattimore and Ryan Ramczyk.
Saints can free up cap space with contract extensions
Ramczyk is an interesting case because he is set to earn just over $11 million on his fifth-year option. But his deal carries a $0 dead cap value, making him a prime candidate to be cut.
The Saints obviously don’t want to cut the former 2017 first-round pick after yet another All-Pro season in 2020. Figuring out a backloaded extension is a smart move and ensures he gets paid when the cap situation isn’t so tight.
Lattimore is in the same situation as Ramczyk. He was also taken in the first-round back in 2017 and has a non-guaranteed salary in 2021 on his fifth-year option. The defensive back has already made three Pro Bowls and is owed roughly $10.25 million in 2021.
Both players should be interested in signing extensions to ensure their future earnings. Doing so in a way that helps the team is perfect, given the players get guaranteed money that makes this one big cap workaround for the Saints.