Saints reduce Will Smith’s cap number by $4.78 million

AP

While the rest of America debates the significance and potential outcome of the Saints’ bounty scandal, the organization itself is conducting business as usual.

ESPN.com’s Pat Yasinskas reports that the Saints have restructured defensive end Will Smith’s contract, lowering his 2012 cap number by $4.78 million.

Smith didn’t take a pay cut. Instead, he received a new $6.175 million “signing” bonus to be tacked onto his $825,000 base salary, $150,000 workout bonus, and $1 million roster bonus due on March 27.

While the move helps New Orleans get under the 2012 cap, Smith’s contract will have to be addressed again next offseason. The implementation of the new signing bonus shoots his 2013 salary cap cost over $14.5 million.

Smith will be 32 years old during the 2013 season.