NFL Network’s Ian Rapoport was the first to report a contract restructure between the New Orleans Saints and Pro Bowl kicker Wil Lutz, creating $1.74 million in salary cap space while tying Lutz to New Orleans a little more tighter in future years.
The Saints achieved this by converting most of Lutz’s base salary and a roster bonus into a signing bonus; he’ll now receive just $990,000 in base salary, the veteran’s minimum, but it’s offset by a nice signing bonus worth about $2.61 million. That signing bonus will be prorated over the three years remaining on his contract on top of a previous signing bonus from when he first signed the extension.