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Saints finagle $3.13 million 2014 cap number for Byrd

Byrd Getty Images

When the Saints signed safety Jairus Byrd to a six-year, $54 million deal, plenty of league insiders were stunned by the team’s ability to cram the contract into a cap crunch.

PFT has obtained the full details of the agreement, which shows how G.M. Mickey Loomis pulled it off.

The Saints combined an $11 million signing bonus with a fully-guaranteed (as of March 21, 2014) 2015 roster bonus of $6 million.  Coupled with a fully-guaranteed base salary of $1.3 million for 2014, Byrd gets $18.3 million fully guaranteed at signing.

In 2015, Byrd will earn a base salary of $2 million.  It’s guaranteed for injury only until March 2015, at which time it becomes fully guaranteed.  Also, $6 million of his $7.4 million base salary for 2016 is guaranteed for injury only at signing; it becomes fully guaranteed in March 2016.

The base salaries for the final three years of the deal are $7.9 million in 2017, $8.4 million in 2018, and $8.6 million in 2019.  He can earn $300,000 in each of those seasons via per-game roster bonuses.

If the salary cap grows as expected, the Saints should be able to retain Byrd for the full life of the contract, skills permitting.  For now, it gives them the low cap number they desperately needed.

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20 Responses to “Saints finagle $3.13 million 2014 cap number for Byrd”
  1. andreboy1 says: Mar 13, 2014 2:05 PM

    Cap hell in a couple years

  2. tommysaint1 says: Mar 13, 2014 2:08 PM

    Mickey and his cap magic.

    In Loomis we trust!

  3. saints12013 says: Mar 13, 2014 2:12 PM

    Mickey Loomis is a genius

  4. 6ball says: Mar 13, 2014 2:12 PM

    .

    Good safeties are hard to come by. How many teams have 2 above average?

    .

  5. asseenonokra says: Mar 13, 2014 2:18 PM

    The Loomis

  6. saintsfan1111 says: Mar 13, 2014 2:20 PM

    > Cap hell in a couple years

    Cap hell was this year. We still got the best defensive free agent.

  7. thestrategyexpert says: Mar 13, 2014 2:26 PM

    They just have to figure out how to finagle that ugly 2016 setup, and they have time, so no worries for quite a long time, if any worries at all.

  8. believeland2014 says: Mar 13, 2014 2:27 PM

    Byrd and Vaccaro is a great safety duo imo.

  9. peytonsneck18 says: Mar 13, 2014 2:32 PM

    Byrd isnt that.good, and hes injury proned

  10. johnclaytonsponytail says: Mar 13, 2014 2:36 PM

    Love how every year we seem to be in a salary cap crunch but Loomis works the cap like a pro. Glad to have one of the best GMs in all of sports.

  11. cwas228 says: Mar 13, 2014 2:40 PM

    >>>Byrd isnt that.good, and hes injury proned

    3 pro bowls in 5 years…22 ints

    missed 5 games in 5 years

  12. gridironmike says: Mar 13, 2014 2:41 PM

    Mickey is the master. The Saints avoid cap hell every year because of this.

  13. scrummymustard says: Mar 13, 2014 2:57 PM

    The $3.13 number is incorrect. It is $3.5 million cap hit for 2014.

    You can only prorate signing bonuses over 5 years, not 6 like was done here.

  14. gamds says: Mar 13, 2014 3:46 PM

    If you think Eugene Parker, Byrd’s agent, will let him play next year for 2 million, he has an empty training camp locker for you to rent.

  15. officialgame says: Mar 13, 2014 4:15 PM

    They lost Sproles, still have to sign Graham and it seriously effects their 2015 CAP. Byrd is good but not that good.

  16. doubleogator says: Mar 13, 2014 4:25 PM

    When this was first announced there were plenty of negative comments about how the Saints would be able to pay Byrd, well the cap hit is less than Sproles cap hit would have been, and they also picked up a 5th rounder in the process. Micky Loomis is one of the best GM’s in the NFL, at working around the cap…

  17. mrlaloosh says: Mar 13, 2014 4:31 PM

    Mickey is Tricky.

  18. bcajun says: Mar 13, 2014 8:09 PM

    By 2016 Brees will prob have retired possibly…dont think Loomis doesnt know what hes doing…if you doubt you are in for a BIG letdown…stay hatin haters

  19. mikejonesforum says: Mar 13, 2014 11:24 PM

    Translation- In today’s NFL, it’s a three year contract assuming he’s on the field on Sundays and not on IR.

  20. kingbrees9 says: Mar 13, 2014 11:26 PM

    Saints fans the saints are going to the Superbowl this year . We have graham under control and have more money to spend and 7 draft picks 2 receivers 2 linebackers a corner and a tackle and possibly a new d end . We always look for gems after the draft I guarantee you we will sign at least 10 undrafted free agents . This team will shock the league . Our defense has potential to be elite and our offense will add receiving talent and a stronger running game with Ingram and khiry and possibly a new back knowing Sean . If we can protect drew Brees and stay healthy we will dominate the NFC and bring home another Lombardi our team and fans deserve it

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