Saints rank top-10 in salary cap space after free agency spending spree
It’s been a busy week for the New Orleans Saints, and they’re positioned well to clean up during the next wave of free agency. The Saints signed veteran free agents like defensive tackles Nathan Shepherd and Khalen Saunders as well as running back Jamaal Williams, who account for a combined $5.74 million against the 2023 salary cap (roughly 2.5% of the team’s spending limit). New Orleans also brought back special teams linebacker Ty Summers and signed backup right tackle Storm Norton, likely both on veteran’s minimum contracts that will have minimal salary cap impact.
That leaves the team with approximately $17.3 million to spend ahead of the 2023 NFL draft. Take out the $3.2 million budgeted for their rookie draft class and New Orleans is left with more than $14.2 million in cap space, which ranks sixth-best around the league. They’ll be able to make competitive offers for free agents like tight end Foster Moreau, who visited the team on Saturday after meeting with the Cincinnati Bengals (who have $16.4 million in effective cap space, accounting for their draft class). Let’s see what general manager Mickey Loomis and his front office personnel do with these resources.
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