Call it the Kenny Vaccaro effect.
With a rookie first-round safety in the fold, veteran safety Roman Harper has opted to re-do his deal in a way that creates major cap savings for the team.
Per a source with knowledge of the contract, Harper’s cap number for 2013 has plunged from $7.15 million to $3.66 million. That equates to a cap savings of $3.49 million.
Harper’s base salary was converted from $5.25 million to a guaranteed salary of $840,000, and $2.91 million of the salary has been shifted to a signing bonus. Previously, only $2.6 million of Harper’s salary for 2013 was guaranteed; he emerges with $3.75 million guaranteed for the year. However, his total cash for 2013 has dropped from $5.35 million to $3.85 million.
Harper’s cap number for 2014 also has dropped from $7.9 million to $5.87 million, via a reduction in the money he’s due to earn from $6.15 million to $3.15 million.
The new deal extends Harper’s contract by one more year, via a base salary of $2.7 million, a roster bonus of $650,000, and a workout bonus of $150,000 in 2015.
If Harper is cut next year with a pre-June 1 designation, the Saints would carry $2.72 million in dead money in 2014 and $970,000 in 2015.