Two Saints Veterans Designated As Post-June 1 Cuts While Another Will Cost Them Dead Money

As we enter the new league year, some bookkeeping items exist for the Saints. On Wednesday, Michael Thomas and Jameis Winston were both designated as post-June 1 releases by the team. Andrus Peat also became a free agent after the team didn't get a new contract done with him.

Jameis Winston signed with the Cleveland Browns on a one-year deal that is worth up to $8.7 million, while the next stops for Thomas and Peat are to be decided. If Thomas was still on the team's roster on Mar. 15, he was to collect a guaranteed bonus of $119 million. After last year's contract with New Orleans, it was always expected that he would become a free agent.

New Orleans will have to deal with some dead money when it comes to Andrus Peat, to the tune of nearly $13.64 million. They already had some tied up this year with the release of Marcus Maye that cost $8.13 million and with Bradley Roby ($1.7 million) and Tre'Quan Smith ($1 million). The current dead money charge for the Saints is at $24.61 million. They'll also still be on the hook for some financials with Winston and Thomas too.

The door may not be totally closed on Andrus Peat to return, but he's projected to get some left tackle money based off his 2023 season. New Orleans isn't expected to move Trevor Penning right now from the left tackle spot, and James Hurst is also an option on the left side in some capacity. Under Klint Kubiak's new offensive system, the Saints simply have to get this right for it work like it should.

As of right now, the Saints have just over $15 million in cap space, but that's sure to change with some new deals in place and other accounting moves.