The Saints are in the process of trying to create salary cap space, and a new deal for wide receiver Marques Colston will give them some.
The Saints and Colston have completed a restructured deal, Jason La Canfora of CBS reports.
There’s no word on the details of the deal. Colston signed a five-year, $36.3 million contract in March, and he may have simply agreed to reduce his $4.5 million base salary to the league minimum while taking the rest as a signing bonus that will be prorated over the final four years of his deal.
Up next for the Saints is seeing whether they can work out deals with Will Smith and Jonathan Vilma. Both veteran defenders are expensive, and are expected to be told that a simple restructuring won’t be enough: They’ll either take a pay cut or get cut.