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For years now, the New Orleans Saints have been manipulating the NFL salary cap unlike any team in recent history. And at this point, they are a giant bubble waiting to burst as they continue to push prorated bonus money into future years.
There is one simple reason why you can't knock this strategy: they have Drew Brees. When you have a Hall of Fame quarterback on the way out, you might as well do whatever it takes to field a Super Bowl-contending roster. We talk a lot about teams going “all-in” in a given season, but there has been no better example in the last decade than this year's Saints.
New Orleans is currently projected to have around -$75 million in 2021 cap space if the salary-cap floor of $175 million — which was agreed upon by the league and the NFLPA — ends up being utilized. That is not a typo. They are projected to have a negative $75 million.
The team also has one of the best pending free-agent groups of any team in the NFL, which includes: Alvin Kamara, Demario Davis, Marcus Williams, Sheldon Rankins, Jameis Winston, Jared Cook and more. Further, promising young cornerback Marshon Lattimore and star offensive tackle Ryan Ramczyk — Kamara's fellow 2017 draft class members — are both set to play on the fifth-year option in 2021, but they will obviously be looking for extensions in the near future.
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