Ellerbe and the Saints agreed to a restructured contract, ESPN's Field Yates reports.
Ellerbe signed a five-year, $35 contract with the Dolphins in 2013, then was traded to the Saints in March 2015. He's mostly been effective when healthy, but with just seven games played over the last two seasons, it was inevitable that he'd either accept a pay cut or be released. The Saints presumably have him penciled in as a starter for 2016.
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