3 Contracts the Saints Need to Restructure to Create Cap Space

Thanks to Drews Brees' benevolence, the New Orleans Saints have been able to make a handful of moves this offseason that have helped to keep their lofty expectations intact.

Thus far, the Saints have reunited with safety Malcolm Jenkins, re-signed guard Andrus Peat to avoid a key loss along the offensive line, and signed wideout Emmanuel Sanders to line up opposite stud Michael Thomas.

While New Orleans' roster is as rich as any in the NFL, general manger Mickey Loomis should look to stay ahead of the pack by salvaging some cap space. The Saints currently have $9.01 million to work with, and to create more room they'll need to restructure the contracts of these three players.

3. Sheldon Rankins

Saints DT Sheldon Rankins / Wesley Hitt/Getty Images

Following a career year in which Rankins notched eight sacks and 15 QB hits, the Saints inked their former No. 12 overall pick to a four-year, $12.8 million contract last offseason. Unfortunately for the Louisville product, he suffered an ankle injury in 2019 and appeared in just 10 games. That came less than 12 months after he suffered a torn Achilles. Rankins' deal includes a $7.69 cap hit for the 2020 season. The 25-year-old's concerning injury history should see the Saints approach him about toying with his contract.

2. Demario Davis

Saints LB Demario Davis / Wesley Hitt/Getty Images

Davis is coming off a career year in which he compiled 111 combined tackles, four sacks, nine QB hits, and a whopping 15 pass deflections. However, the Saints really have no reason not to restructure his contract, which includes a $9.9 million cap hit in 2020. Davis is a consummate professional who should have no beef if the franchise were to approach him about altering his deal. The 31-year-old vet should be as hungry as anyone in New Orleans for a Super Bowl.

1. Jared Cook

Saints TE Jared Cook / Chris Graythen/Getty Images

Cook, a free agent in 2021, is a solid tight end who has added another dimension of versatility to the Saints offense, but he doesn't deserve to be the team's fifth highest-paid player. In 2020, Cook's contract comes with a $9 million hit against the cap. The Pro Bowler logged a career-high nine touchdowns last season, but taking a pay cut would give Nola a better shot at making a run at the Super Bowl. Isn't that why you play the game?