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The contract between the New Orleans Saints and wide receiver Emmanuel Sanders was processed earlier this week, with details on the agreement coming to light on Wednesday. Those included reports for what Sanders will count against the Saints salary cap not just in 2020, but in the following year — and the year after that.
Per NFL Network’s Mike Garafolo, Sanders received a fully-guaranteed $8 million for 2020, while he is due a non-guaranteed $8 million in 2021. An automatically-voided year for 2022 is also on the books, which is simply for salary cap accounting purposes. Sanders also agreed to $1.5 million incentives for receptions totals in 2020 and 2021.
Naturally, it’s a little more complicated than that. Nick Underhill of NewOrleans.Football reported that Sanders received a $6 million signing bonus (prorated across the next three years) as well as a guaranteed $2 million base salary in 2020. That means his first-year salary cap hit is just $4 million.
In 2021, however, his base salary jumps to $6 million. But it is not guaranteed — Sanders is due just $2 million in guarantees next year, from a roster bonus that was retroactively guaranteed shortly after the deal was signed. The long and short of it is that Sanders will count $10 million against the Saints salary cap in 2021, but the team can get out of that contract and save up to $6 million if things don’t work out. It’s early, but so far it sure looks like things will work out in everyone’s favor.
So, here’s what really matters. The Saints cap hits for Sanders in each of the next three seasons. Remember, the 2022 year in Sanders’ contract will automatically void, allowing him to test free agency again.
- 2020: $4 million
- 2021: $10 million
- 2022: $2 million
That’s a very good deal, all things considered. Sanders figures to contribute heavily in the Saints passing game as a compliment to Michael Thomas out wide, but his versatile route tree should allow the Saints to deploy the veteran from the slot, too. With running back Alvin Kamara and tight end Jared Cook also in the lineup, Drew Brees shouldn’t lack for options on passing downs. And we haven’t even gotten into a very talented draft class at wide receiver yet.
$10 million cap charge in 2021 assuming reception bonuses are not likely to be earned.
— Nick Underhill (@nick_underhill) April 8, 2020
But let’s not get too far ahead of ourselves. This update puts the Saints at roughly $6.09 million in cap space for 2020, but a few other deals need to be processed. That includes a one-year, $2 million agreement with cornerback P.J. Williams, which on its surface should be a simple $2 million cap scharge in 2020. But as we’ve seen often before, the Saints are open to creatively navigating the salary cap, so Williams could very well be due less this season. We’ll stick with our $6.09 million estimate for now, but it’s important to remember that’s not final.
Additionally, the Saints will have to pay their rookie class once their picks are filed. The good news is that they already know how much those additions will cost, and can factor it into the existing salary cap space figure. Right now, the Saints draft class will only cost about $5.2 million, but any new contracts will bump less-valuable deals off of the books (thanks to the league’s top 51 rule).
If you’re still with us: signing the Saints draft class will only add about $1.87 million onto their salary cap numbers, unless they trade any of their picks. Good thing they don’t have an extensive history of doing that, right?
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