Saints, Michael Thomas are believed to be closing in on a deal

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On Friday, we were told that the Saints and receiver Michael Thomas were close. Soon, they may be getting the cigar.

Per a league source, the current chatter on the NFL grapevine is that the Saints and Thomas will be reaching an agreement soon. Thomas became a surprise holdout as he enters the fourth year of his rookie deal.

Our sense as of Friday was that Thomas wanted $20 million per year on a five-year extension, and that the team was in the range of $19 million per year. As G.M. Mickey Loomis said Monday, issues like structure and guarantees also become relevant when attempting to resolve a contractual impasse.

Thomas is subject to fines in the amount of $40,000 per day. That’s peanuts in comparison to what he’s trying to get. Also, the Saints likely won’t be withholding those amounts from his first game check; NFL teams routinely forgive those fines.