Saints Players Agree to Restructure Contracts

Offensive lineman Terron Armstead has agreed to a restructured contract with the New Orleans Saints, a source confirmed to The Times-Picayune | New Orleans Advocate on Wednesday.

Wide receiver Michael Thomas has also reportedly agreed to a restructured deal, according to a report from Nick Underhill of NewOrleans.Football.

The new terms of their contracts are not yet known.

Before the reworked deals, Thomas and Armstead had the two highest valued contracts on the team, ahead of No. 3 Janoris Jenkins, No. 4 Cameron Jordan and No. 5 Drew Brees.

Armstead was set to be a cap hit of $15,968,750 for 2020, including his base salary of $10.7 million, a signing bonus of $2.2 million and a little over a million in roster and workout bonuses.

Thomas was set to receive a base salary of $11 million for 2020 with a $4 million signing bonus for a $15 million cap hit for 2020 that incrementally increases to a $20.45 million cap hit for 2023.

The Saints and Thomas agreed to a five-year contract extension worth $100 million with $61 million in new guaranteed money during training camp. The deal  The guaranteed money, according to ESPN, was the highest in NFL history for a non-quarterback.

Thomas finished the 2019 season with an eye-popping statline of 149 catches for 1,725 yards, leading the league in both categories — and no other receiver came close.

Armstead played in 15 games in 2019, missing just one due to a high ankle sprain. His approximate value for 2019 tied his career-high at 10.

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