That average of 35 million a year would make his paid on the same level as Russell Wilson. He would also be making more than Aaron Rodgers, Mathew Stafford, Derek Carr, and Tom Brady. So, did the Saints just make Hill the fifth richest QB in the league? Not exactly, in fact they saved $7.5 million against the cap.
The truth behind this contract is that every single one of those years is voidable. Apparently, this money isn’t actually real. What they really did was convert most of his salary he was supposed to make this year into a signing bonus. Signing bonuses, while in reality are paid in one lump sum to the player, can actually be prorated over a 5 year period when it comes to counting against the cap thus they make a super bogus contract to make it seem like Hill is being paid a boat load of money. Why they made the number so ridiculous is unknown. They may have just done it as a joke. Perhaps they made it so he could not be considered in any trades.
The Saints troubles are not over, in fact, they have a long way to go before they can become cap compliant. According to overthecap.com the Saints still have roughly 12 million to erase by tomorrow. I am not sure this number includes the restructure of Hill’s contract or the release of Janoris Jenkins. Regardless, it’s obvious the Saints will not be making any big moves in free agency this offseason. This year is the harsh reality for the Saints who have been aggressive from the 65% increase in cap space from 2011 to 2020. The sharp decline of 8% cap space this year has exposed them financially. The Saints are not the only team who has been forced to release some of their best talent due to money but they are surely in the worst situation.
