Saints escape cap purgatory! Discover the strategic moves unlocking aggressive spending and a brighter future, finally mastering their finances.
For the better part of a decade, the New Orleans Saints’ offseason has followed a predictable, almost Sisyphean cycle. Every January, fans and analysts would look at a spreadsheet showing the team $70 million, $80 million, or even $100 million over the salary cap. We’d collectively hold our breath as GM Mickey Loomis and cap guru Khai Harley performed their annual "cap gymnastics" by restructuring every veteran in sight just to field a roster.
But as we look toward the 2026 league year, the narrative has shifted. The Saints are currently projected to be roughly $23.6 million over the limit. In the context of New Orleans' financial history, this isn't a crisis, it’s actually "lite work." For the first time in years, the Saints aren't just surviving the cap, they are positioned to master it.
The Loomis "Lite Work" Strategy
While being $23.6 million in the red would cause a panic in most front offices, Loomis has navigated far more treacherous waters. The path to not just compliance, but aggressive buying power, is surprisingly short. This strategy will potentially bring Kellen Moore more targets and a solid team to make a bigger run for the 2026 season.
By pulling three specific levers, the Saints can flip their deficit into a surplus:
- Extend Chris Olave: The star wide receiver is entering the final year of his rookie deal. A long-term extension could lower his $15.5 million cap hit by roughly $8–$9 million.
- Restructure Chase Young: Converting Young’s 2026 salary into a signing bonus could clear approximately $10.9 million.
- Restructure Juwan Johnson: Re-working the tight end's deal adds another $6.3 million in breathing room.
These three moves alone bring the Saints into the black, but the real "New Era" begins with the secondary moves. Adjusting the contracts of core players like Erik McCoy and Carl Granderson could open up an additional $15–$20 million in pure spending money.
The most exciting part of this financial reset is the shift in philosophy. For years, the Saints were forced to sign "bargain bin" free agents or wait until the second wave of the market. In 2026, they have the flexibility to target high-impact starters to fill long-standing holes.
A Calculated Risk Worth Taking
The "New Era" doesn't mean the Saints are abandoning their aggressive nature. It means that aggressiveness is finally sustainable. With the 2026 cap projected to be even healthier (potentially $130M+ in effective space), Loomis can afford to "kick the can" one more time, but this time, the can is a lot smaller, and the rewards are much higher.