Saints Cornerback Keenan Lewis Restructures Contract
New Orleans Saints general manager Mickey Loomis is moving more money than Vegas on the first day of the NCAA tournament.
With the Saints overall team salary for 2014 being near the $133 million salary cap ceiling, Loomis is shifting money around as best he can.
Saints cornerback Keenan Lewis is the latest to restructure his contract, according to a report from Larry Holder of nola.com.
Lewis didn’t take a paycut in the restructuring. He simply got $2.1 million in bonus money up front, while his base salary for the next two years drops. That creates $2.2 million in cap space the next two seasons. However, the Saints will be held accountable for an extra $1.1 million in 2016 and 2017 as part of the restructuring.
According to the NFL players association, the Saints are currently $3,089,212 below the salary cap.