New Orleans Saints likely to release Jameis Winston to bolster cap space

Following the news that the New Orleans Saints are signing free agent quarterback Derek Carr for the 2023 season, NFL insider Adam Schefter is reporting that their most plausible move with Jameis Winston is to cut him ahead of the season.

Last year, the former Florida State and Tampa Bay star signed a two-year deal with the Saints worth $28 million. The deal included $14 million in signing bonuses with $21 million guaranteed. As Schefter reports, New Orleans could save as much as $12.8 million by cutting Winston after June 1.

If the Saints move on sooner, they’ll save $4.4 million in 2023 salary cap space, but they’d still have $11.2 million in dead money.

The 2015 NFL Draft No. 1 overall pick played three games this season for the Saints. He suffered back and foot injuries early in the year that eventually put Andy Dalton in the QB1 position.

As it currently stands, the Saints are $18.1 million over the 2023 salary cap. They already restructured the contracts of Taysom Hill and Demario Davis, saving them roughly $12.7 million. Winston’s cap hit is the fifth-largest for New Orleans in 2023.

More on the 2023 NFL offseason, free agency

The NFL 2023 calendar year begins at 4 p.m. ET on March 15. At that time, contracts running through 2022 officially run out, making those players free agents.

Prior to the beginning of free agency, teams will have a chance to designate one franchise or transition tag player, starting on Feb. 21 at 4 p.m. ET and ending on March 7. Beginning March 13 through March 15 teams can enter into a legal negotiation with players who are will become unrestricted free agents.

In addition to NFL free agency, the new year also marks the beginning of all trades being made official by the league office.

April 21 marks the deadline to sign restricted free agents to offer sheets. On April 26, the deadline for teams to match restricted free agent offers sheets hits.