Saints $3.6 million under salary cap after Bunkley, Bailey, Bush deals

New Orleans Saints head coach Sean Payton, left, and general manager Mickey Loomis are seen during NFL football pro day, Wednesday, April 9, 2014, in Baton Rouge, La. (AP Photo/Jonathan Bachman)

New Orleans Saints head coach Sean Payton, left, and general manager Mickey Loomis are seen during NFL football pro day, Wednesday, April 9, 2014, in Baton Rouge, La. (AP Photo/Jonathan Bachman)

With new deals for nose tackle Brodrick Bunkley, cornerback Champ Bailey and safety Rafael Bush on the books, the Saints were about $3.6 million under the 2014 salary cap on Thursday afternoon, according to the NFL Players Association website.

Bunkley recently cut his 2014 pay by nearly $2.9 million. He was originally owed $4.5 million in salary and bonuses for the upcoming season, but he’s due to make $1.65 million after slicing his compensation, information from both the NFLPA site and various media reports indicate.

The Saints signed Champ Bailey to a two-year deal that became official Wednesday and guarantees him only $500,000 but offers millions more in incentives. His deal will cost $1.25 million against the cap, via ESPN.

As for Bush, he signed a restricted free-agent offer sheet from Atlanta on April 3. The Falcons offered Bush a contract worth up to about $4.55 million over two years, but the Saints matched it to retain him.

The Baltimore Sun’s Aaron Wilson on Thursday reported that the Saints gave Bush a $3.8 million deal that includes up to $750,000 in incentives for a Pro Bowl selection as well as interceptions in 2015. It has a full guarantee of $850,000 and a base salary of $1.85 million in 2014.

Some $350,000 are deferred to March 31, 2015, Wilson reported. Wilson added that Bush’s 2015 base salary is $1.95 million.