Janoris Jenkins, New Orleans reach an understanding
The New Orleans Saints have become a team that is known for creating cap space in a variety of ways to help better the roster in the offseason. In an attempt to create some more cap space, Janoris Jenkins and New Orleans restructured his current contract, per ESPN’s Field Yates.
The Saints and CB Janoris Jenkins have agreed to a renegotiated contract. A sensible move for the Saints to create cap space, as Jenkins was scheduled to count $11.25M against the cap, with a base salary of $10.25M. GM Mickey Loomis is always finding ways to create cap space.
— Field Yates (@FieldYates) March 24, 2020
Prior to restructuring his deal, Jenkins possessed a $11.25 million cap hit in the final year of his contract in 2020. While the numbers of his renegotiated deal haven’t been revealed, it figures to lower that number next season.
In all likeliness, the Saints added a couple of years to the contract that will be voided once the 2020 season concludes. For example, New Orleans could add two more years to the contract, turning part of his salary into a roster bonus next season.
At the same time, the Saints would spread the rest of his salary over the next two seasons, as it becomes a dead-cap penalty. Of course, while the move hurts the franchise in the future, it helps them short-term.
After being released by the New York Giants, Jenkins was claimed off of waivers by the Saints near the end of the 2019 season. As a result of claiming him off of waivers, New Orleans took on the rest of the veteran cornerback’s contract.
Despite spending just three games with the Saints, New Orleans liked what they saw from Jenkins in their defense. With the Saints restructuring Jenkins’ contract, they are showing that they are going all-in for the 2020 season, giving themselves more money to spend in the offseason.