The New Orleans Saints formally placed a first-round tender on restricted free agent quarterback Taysom Hill on Wednesday, as reported by Nick Underhill of NewOrleans.Football. ESPN’s Adam Schefter reported last week that this move was coming, but now it’s official. But what does it mean?
Hill is now expected to play the 2020 season on a one-year, fully-guaranteed contract valued at around $4.641 million, per Over The Cap. While the Saints will have the ability to sign him to a contract extension at any time, he will otherwise become an unrestricted free agent in March 2021.