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Following the announcement that Drew Brees has officially retired from the NFL, the Saints have handed QB Taysom Hill an exuberant deal — sort of.
Amid a $182.5 million cap limit for the 2021 NFL season, the Saints have found a creative way to create cap room. Hill is now on a four-year, $140 million deal to save the Saints over $7.5 million in the 2021 season. The big-time contract doesn’t mean much, however, as all years are voidable.
With this contract, Hill now technically holds the fourth-highest annual salary average in the NFL — $35 million per year — tied with Seahawks quarterback Russell Wilson.
In other news: the salary cap is a myth.
Saints are restructuring QB Taysom Hill’s contract to create cap room. Details are great: it’s a 4-year, $140 million contract extension - but all years are voidable and it’s a mechanism to free up cap space this year, per source. It saves Saints over $7.5M against cap this year.
— Adam Schefter (@AdamSchefter) March 14, 2021