Saints finagle $3.13 million 2014 cap number for Byrd

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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.

20 responses to “Saints finagle $3.13 million 2014 cap number for Byrd

  1. 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.

  2. 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.

  3. 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.

  4. 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…

  5. 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

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

  7. 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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