Michael Thomas, Saints (Photo by Cooper Neill/Getty Images)
It could be the end of an era in New Orleans, as the Saints restructured Michael Thomas’ contract this weekend. The two sides may part ways this offseason.
Michael Thomas’ future with the New Orleans Saints will likely be decided by the third day of the new league year — specifically, March 17, 2023 — when his $32 million roster bonus kicks in. Those were the terms of the reformed contract the veteran wide receiver signed on Saturday, which paved the way for more cap room for the Saints, and potentially an early exit for Thomas.
By moving up the eventual team opt-out, New Orleans is doing Thomas a favor. It would allow him to get a head start on other free agents to be, and potentially find a home prior to the others. In what’s considered a relatively weak wide receiver market this offseason, courting Thomas will be in rival teams’ best interests.
FanSided’s Josh Wilson outlined the Saints dilemma with Thomas in a recent article, proving a solution on this outcome isn’t so simple:
“It’s hard to project exactly what the restructure means for Thomas’s future, as the Saints are frequently tight on cap space and restructuring deals in this fashion is nothing new for them. It’s hard to ignore the savings they would have by releasing Thomas, though. Couple that with the fact that New Orleans had a down year — they enter the final week of the season 7-9 and missed the postseason for the second straight year — and it does make sense to move on from pieces leftover from the previous era.”
If, and it remains a serious if, New Orleans does move on from Thomas, which teams could be interested?
Michael Thomas rumors: Packers should be intrigued
Green Bay was interested in Odell Beckham Jr., and they ought to do their due diligence on Thomas, as well.
With a young receiving corps which includes both Christian Watson and Romeo Doubs (who will be entering their second seasons in 2023), Thomas would provide a stable veteran presence for Aaron Rodgers or Jordan Love to count on in third-down situations.
This becomes especially valuable if the Packers decide to move on from Randall Cobb or Allen Lazard this offseason, as Thomas would help make up for some of that production. Rodgers has looked out of sorts with this receiving corps at times in 2022-23, and a fresh face — let alone a former Pro Bowler — could be the restart No. 12 needs to extend his career.