The salary cap is starting to take its toll on the New Orleans Saints.
As free agency and the new NFL league year looms, the Saints plan to release All-Pro wide receiver Michael Thomas, according to a report from Jeff Duncan of Nola Sports.
Thomas, 31, has suffered through myriad injuries in recent seasons and is coming off a 2023 campaign that saw him catch 39 passes for 448 yards with one touchdown while averaging 11.5 yards per reception. Through the first 83 games of his career, Thomas has pulled down 565 passes for 6,569 yards with 36 touchdowns.
During Drew Brees' time with the Saints, Thomas became a frequent and favorite target of the future Hall of Fame quarterback as the duo ushered in an era of unprecedented success for the franchise. But, father time and the salary cap seem to have caught up to New Orleans as this pillar of the franchise will be playing elsewhere next season. And, Thomas might not be the last Saints player to be released in the coming days.
By releasing Thomas, the Saints create $3.41 million in cap space, by designating him a post-June 1 release, while triggering an $8.99 million dead-money charge in 2024 and adding $9.18 million in dead-money against the cap in 2025.
Thomas became expendable, in part because of his diminished production due to injuries, combined with the emergence of Chris Olave as a top receiver in the NFL and a breakout campaign from 25-year-old Rashid Shaheed.
New Orleans has become notorious in recent seasons for restructuring the deals of key veteran players and continuously pushing guaranteed money into future years. Even as the salary cap surpasses $255.4 million for the 2024 season, the Saints remain $15.4 million over the cap. Meanwhile, in 2025, no team is in a worse cap situation than the Saints who are projected to be over the cap by an approximate $58.8 million.
