The Saints can get cap compliant without releasing any players, but having a few extra million could go a long way in free agency.
The free agency window is going to be a fun one, and for the New Orleans Saints, it is going to be a busy offseason. Usually, how the Saints approach free agency is to find upgrades, sign them, even if expensive, and backload their contracts so they are not as expensive in their first season. This allows that player to be restructured during future offseasons and once again, push the owed money down the road. Dead cap is a massive result of this, but the difference this offseason is that it's perfectly fine for the Saints to do.
Next offseason, the team will be more than just cap compliant; they will have an extreme amount of cap space to utilize. By doing their normal restructuring, they can take some of the money from next offseason and use it now, accomplishing the same thing without destroying their future cap space.
With QB Tyler Shough proving enough to feel comfortable about building around him, the Saints are very likely to be big spenders this offseason. As I mentioned, they will get this done by their normal cap gymnastics, but releasing some players will also help.
The current roster is not bad, but some players are either not performing enough or their spots are already taken. Combining that with some more millions being added to the cap space if they get released, it's a no-brainer decision, so here are some options for the Saints that fit that situation.
SAF Jordan Howden
Starting on the defense, Jordan Howden does not really have a spot on the roster. Justin Reid and Jonas Sanker are the starting duo at SAF. The Saints just signed Julian Blackmon to a one-year contract. Howden already has a tough spot to play starting minutes, but he is also out of contract next season. If he had another two years, keeping him may be a good idea because Blackmon would be out of contract after this season, but Howden is also very likely to leave.
Regarding the cap impact, releasing Howden will save nearly $4 million before June 1st. It's way more worth it to have that money and select a rookie SAF than keep him on the roster.
RB Kendre Miller
This one is tough, but for all parties, it may be time for a breakup. Kendre Miller has such high potential, but with his injury history, the Saints can not guarantee him a roster spot next offseason. RB is a big need for this team. Alvin Kamara and Devin Neal will be two of the RBs, and/when the Saints find an RB upgrade, that would be three spots already taken.
By moving on from Miller, the Saints would only save around $1.5 million, but more money is better.