NEW ORLEANS (WVUE) - New Orleans Saints QB Drew Brees agreed to drop his salary for the 2021 season from $25 million to a little over $1 million. That’s according to numerous media reports.
This would be in preparation for the Saints quarterback retiring this offseason.
The move will save the Black and Gold $24 million in salary-cap space. The Saints are reportedly $95-$100 million over the salary cap.
Brees has yet to announce his retirement from the NFL, but Coach Sean Payton hinted it was coming soon.
“I think that’s coming in the next week or two,” Payton said in an appearance on Pick Six Podcast. “Last season, there was a lot of time spent, he spent a lot of time. There’s a wear and tear in these types of years, especially at that position but I think that’s something that within the next week, week and a half, that he’s going to address and announce.”
Once Brees does retire, the Saints will wait until after June 1 to officially file his retirement paperwork. The team will spread his salary cap over the next two seasons in a cost-cutting measure.
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