The New Orleans Saints are in the process of trying to get out of salary cap jail, and they informed two of their top players on Wednesday that they will be released.
The Saints will release veteran linebacker Kwon Alexander and wide receiver Emmanuel Sanders, according to multiple reports. Releasing the two players will free up nearly $20 million in salary cap space for the team.
In addition to cutting Alexander and Sanders, the Saints have also worked out restructured contracts with several players.
More restructuring to create salary cap space:
— #Saints S Malcolm Jenkins: $3.4M of extra room
— #Saints OL Andrus Peat: $6M
— #Eagles OL Isaac Seumalo: $2.408M
— #Steelers FB Derek Watt: $880K— Ian Rapoport (@RapSheet) March 10, 2021
The Saints entered the offseason more than $50 million over the salary cap for 2021, which was confirmed on Wednesday to be $182.5 million. Drew Brees has done his part to help the team before formally announcing his retirement. It’s also possible New Orleans could try to trade a star player or two to free up money.
Sanders, 33, caught 61 passes for 726 yards and five touchdowns last year. He should draw plenty of interest on the free agent market. The same is true of Alexander, who is just 26 and has a Pro Bowl on his resume.
