The Saints have a bit more cap space to play with this year.
Field Yates of ESPN.com reports that left tackle Terron Armstead has agreed to restructure his deal with the team. Armstead’s $5 million roster bonus has been converted into a signing bonus to spread the cap hit out over a deal that runs through the 2021 season.
The immediate impact of the move is that the Saints will have $4 million in cap space available this offseason that wasn’t previously at their disposal.
Any new money added to the Saints’ coffers leads to thoughts that they could apply that to their pursuit of Patriots cornerback and restricted free agent Malcolm Butler. The offer sheet for Butler is only part of the equation, of course, as the Patriots have the right to match and the Saints would have to be OK with giving up the 11th overall pick in the draft if New England doesn’t match.
There’s also a chance the two sides could work out a deal for different compensation, although that can’t happen unless Butler signs his restricted free agent tender or another deal with the Patriots.
