The New Orleans Saints have $40 million in salary-cap space going to players no longer on their team
Jonathan Bachman/Getty
The New Orleans Saints cut CJ Spiller on Tuesday, despite already having paid the veteran running back $1.55 million in a roster bonus and the fact that his $1.7 million salary is fully guaranteed.
That's not exactly an ideal situation, but it's also only the tip of the iceberg that is New Orleans' disastrous salary cap situation.
As ESPN's Field Yates pointed out, the Saints are now carrying roughly $40 million in dead money - that is, money being paid to players not currently on the active roster.
Over the past two seasons, that figure is closer to $70 million:
in the last two years the #saints will have carried over $75m in dead money. they also have early lead in dead money for 2017
- Jason_OTC (@Jason_OTC) September 13, 2016
Spiller lasted less than two full years with the Saints. He picked up 112 rushing yards and 229 receiving yards, failing to really ever make an impact. And yet, the Saints had to wait to cut Spiller because their financial situation is so bleak.
The Saints released Spiller on Tuesday after being a healthy inactive for the team's Week 1 loss against Oakland. They had to wait for the cap space to do it. The cap space came when Drew Brees signed his one-year extension. New Orleans can absorb the $4.5 million cap hit for 2016 and a $2.5 million cap hit for 2017.
Spiller is far from the only player that has been a bust in New Orleans after a big contract. Brandon Browner and Junior Galette also come to mind.
The Saints treat dead cap money like I treat loose socks at the bottom of my closet. "Sure, what's a few more?"
It's hard to compete in the NFL when $40 million is spent to players not suiting up on Sundays. The Saints need to figure out their personnel problems, and figure them out fast, if they want to make the playoffs anytime soon.
- T20WC broadcasters announce special feed for hearing and visually impaired fans
- Motorola Edge 50 Fusion with 144Hz pOLED display, 5,00mAh battery launched starting at ₹22,999
- Today's Silver Prices (May 16, 2024): Updates for Mumbai, Delhi, Kolkata, Bengaluru, Chennai, and other Indian cities
- Bridgerton season 3 will be out on Netflix India today! Here’s everything you need to know about the popular period drama
- With over one lakh fresh jobs, hotel industry could revitalise Indian job market in the next 18 months: Report
- Nothing Phone (2a) blue edition launched
- JNK India IPO allotment date
- JioCinema New Plans
- Realme Narzo 70 Launched
- Apple Let Loose event
- Elon Musk Apology
- RIL cash flows
- Charlie Munger
- Feedbank IPO allotment
- Tata IPO allotment
- Most generous retirement plans
- Broadcom lays off
- Cibil Score vs Cibil Report
- Birla and Bajaj in top Richest
- Nestle Sept 2023 report
- India Equity Market