The Saints definitely will be keeping quarterback Drew Brees for 2016.
Wednesday’s non-news news that $10.85 million of his $19.75 million base salary had become fully guaranteed omitted a piece of new news that means Brees will not be going anywhere. Per a source with knowledge of the situation, the Brees deal has no offset language for 2016.
This means that, if the Saints were to cut Brees, he’d still get the full $10.85 million without reduction for any money earned elsewhere, meaning that the Saints would carry $20.85 million on the books for Brees in 2016, no matter what.
If the deal had offset language, the Saints could have moved on from Brees if the two sides failed to work out a new deal for 2016 and beyond, since someone else surely would have paid Brees that much for the coming season — and the Saints would have gotten a dollar-for-dollar credit for the guaranteed pay.
So as it now stands, Brees has maximum leverage. He can either proceed with a $19.75 million base salary and a $30 million cap number, or he can sign an extension that reduces the cap number in exchange for cash and other considerations beyond the current season.