Saints' Drew Brees: Renegotiating contract

The Saints have renegotiated Brees' contract to open up $24 million in 2021, Nick Underhill of NewOrleans.Football reports.

This move allows the Saints to create cap space now, while waiting until June 2 to officially place Brees on the retired list should he ultimately decide to call it a career. The move allows New Orleans to split his bonus prorations in 2021 and 2022 instead of carrying the entire cap hit at once. Tom Pelissero of NFL Network reports that Brees' contract is now down to base salary. Nothing has officially been announced regarding Brees' future, but this move is seemingly another sign of a likely forthcoming retirement announcement.