Saints Face Salary Cap Challenges Ahead of Free Agency

NEW ORLEANS, La. — The New Orleans Saints must free up approximately $43 million in salary cap space before the new league year begins at 4 p.m. ET on March 12. The 2025 salary cap has been set at $223.4 million, a $23.8 million increase from last year, and teams must comply with the cap before the free agency signing period.

The Saints’ projection includes “dead money” from previous player contracts, including releasing wide receiver Michael Thomas and trading cornerback Marshon Lattimore in November. Additionally, the team expects to void contracts for players like linebacker Demario Davis and defensive end Cameron Jordan, which would accelerate $17.4 million into their cap, increasing their dead money total to $65 million—23.5% of the total cap.

As the Saints work to resolve their cap issues, attention is focused on quarterback Derek Carr, who will enter his third season with the team. Saints general manager Mickey Loomis expressed confidence in Carr, stating, “I think we feel like we’ve got a guy we can win with, we’re excited about it.” Carr’s $30 million base salary, guaranteed on the third day of the league year, poses significant implications for the team’s roster management.

His staggering $51.4 million cap hit means the Saints must make significant adjustments if they wish to navigate free agency efficiently. While moving on from Carr could avoid a $50 million dead cap figure, it leaves minimal cap space for acquiring new players. A restructure of Carr’s deal appears likely, which could save $30.9 million for the upcoming season while pushing $7.7 million into 2026.

Should the Saints choose to restructure, Loomis acknowledged the consequences, saying, “There’s no secret to that. And his is a big number. So hopefully we’ll be able to maneuver.” This restructuring also raises concerns about potential future dead money, risking a substantial cap hit should they release Carr later.

The Saints’ overall strategy involves evaluating veteran players for pay cuts, particularly with tight end Jimmy Graham and defensive end Cam Jordan potentially in the mix. Graham, who has a base salary of $12.5 million, might be approached for a renegotiation. Loomis has emphasized Jordan’s value to the organization, though it’s uncertain if the team will be able to meet his expectations if negotiations occur.

Along with individual negotiations, the Saints aim to streamline their roster while targeting free agency. They are already linked to free agent receivers, including Josh Palmer from the Los Angeles Chargers, who could fit into their budgetary constraints. Palmer, previously worked with head coach Kellen Moore, might be an asset if the Saints encounter injuries similar to last season.

The salary cap issues facing the Saints deepen as the March deadline draws closer, creating a challenging environment as they navigate contract negotiations and aim to bolster their roster for the upcoming season.