NEW ORLEANS — The New Orleans Saints and wide receiver Michael Thomas have reportedly agreed to restructure Thomas’ contract.
Reports indicate that the Saints reduced Thomas’ 2023 base salary from $15.5M to $1.165M. Thomas will receive a $31.755M roster bonus for the 2024 season, which becomes fully guaranteed in March of 2023. He also received a $902,941 signing bonus this week.
Thomas played in three games for the Saints this season before being placed on the injury reserve list in November with a foot injury.
He had surgery to address the issue, sidelining him for the remainder of the 2022-23 season. Injuries have held Michael Thomas to just 10 games of action in the last three years.
What this contract restructure means for Thomas’ future with the Saints is unclear at this point in time, but it’s something to keep an eye on ahead of the new league year.