Drew Brees has agreed to convert part of his base salary into a signing bonus to help create some financial flexibility for the Saints.
The move, which was first reported by ESPN, clears up around $2.6 million in cap space and elevates Brees’ 2016 cap hit to $30 million, which is currently the highest in the NFL.
The quarterback’s base salary was previously $12.435 million. By converting part of his base salary to a signing bonus, it allows New Orleans to prorate it over this season and next season, which is the final one on Brees’ contract.
If Brees is cut or traded during the offseason, he would now count as $10 million in dead money against the cap. His $20 million in base salary and workout bonuses would clear from the cap.