In a familiar financial maneuver, the New Orleans Saints have restructured Taysom Hill's contract, providing immediate salary cap relief but intensifying future cap challenges. The reworking transforms the majority of Hill's 2024 base salary into a signing bonus, which offers a short-term reduction in cap hit but extends the financial burden into subsequent years.
Hill's restructured deal drops his 2024 cap hit from $15.8 million to $9.2 million, shaving off approximately $6.6 million from the Saints' current cap load. This adjustment brings New Orleans to $12 million under the salary cap for 2024. However, the deferred impact of this move pushes Hill's cap hit to a hefty $18 million in 2025.
The Saints, who are notorious for creatively managing their salary cap, now face a daunting projection of being $88 million over the cap in 2025 according to OverTheCap.com. This looming cap crisis will likely necessitate further contract restructuring or significant roster decisions next year.
Hill, entering his eighth NFL season with New Orleans, has established himself as a versatile asset on the roster. Originally joining the team as an undrafted free agent quarterback out of BYU in 2017, Hill has evolved into a multifaceted offensive weapon. In 2023, he recorded career-high numbers as a pass-catcher, with 33 receptions for 291 yards and two touchdowns. Additionally, he rushed for 401 yards and four touchdowns on 81 carries, often operating as a wildcat quarterback.
With veteran Derek Carr secured as the starting quarterback and rookie Spencer Rattler in the wings, Hill is expected to continue his unique role within the Saints' offense. His dynamic contributions, particularly in wildcat formations and as a tight end, make him an integral part of the team's strategy.
As the Saints aim to surpass their 9-8 record from last season and secure a playoff spot after narrowly missing out on a tiebreaker, the fiscal gymnastics they perform this year may heavily influence their future roster stability.
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