Keeping Michael Thomas could cost the Saints more than $60 million in 2024

If there were any doubts about the future of Michael Thomas and the New Orleans Saints, this should put them to rest.

NewOrleans.Football's Nick Underhill reports that there are additional wrinkles to the reworked contract Thomas and the Saints agreed to last week; if Thomas is active for at least four games with New Orleans in 2023, it will trigger a $30 million bonus for 2024. That's in addition to the $31 million roster bonus the Saints moved from the 2023 salary cap calendar over to 2024, which becomes fully guaranteed in March on the eve of free agency.

Essentially, it is now even more likely that Thomas will be released before that $31 million comes into play. The Saints moved that money around at the end of the 2022 season to beat an NFL deadline for restructuring contracts with a post-June 1 cut designation in mind, which lowered the salary cap hit owed for Thomas until a point where the Saints can shed as much of it as possible.

That doesn't necessarily mean Thomas is out in New Orleans (it's possible he and the Saints circle back and restructure it yet again), but that would seem to be the likeliest outcome.

It is difficult to imagine on the team next year if he's going to singlehandedly account for $60 million or more in the season that follows. All of these moves indicate they're preparing for a split this offseason, giving Thomas new opportunities elsewhere and opening up resources for the Saints to invest in other players.