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.