The Denver Broncos have cleared $20 million in cap space through conversions. Meanwhile, the New Orleans Saints have released wide receiver Michael Thomas, designating him as a post-June 1 cut. Thomas' cap figure will decrease from $12.4M to $11.2M on June 2, with additional dead-money charges next year.
The Saints released Michael Thomas and Jameis Winston as Post June 1 cuts today, as expected. Thomas, who was on IR with a knee injury, was listed with a failed physical designation.
The Saints have released Michael Thomas. https://t.co/at1D1X9ds6 https://t.co/SKrNwp7mFf
While we've already have known #Broncos to make Russell Wilson a post-June 1 designation still waiting to see if they'll take a $35.4M cap hit in 2024 and $49.6M one in 2025 or a $53M hit in 2024 and a $32M one in 2025. If it's the latter, that's $17.6M less on current cap number
Former All-Pro and OPOY WR Michael Thomas has been designated as a post-June 1 release from the Saints after failing a physical https://t.co/IddhgKome4
As expected, the Saints move on from their former star receiver… Saints release Michael Thomas after 8 sometimes brilliant, sometimes disappointing seasons https://t.co/hFKJaZGQmE
Michael Thomas: Becomes a free agent https://t.co/D9FKacEGUA
Report: New Orleans Saints will designate the release of WR Michael Thomas to a post June 1st cut, Per @ByLukeJohnson. https://t.co/snYVdOmg2L
Saints WR Michael Thomas will be designated as a post-June 1st cut, per @ByLukeJohnson https://t.co/Lw86uNeYHb
Underhill: Michael Thomas officially a free agent https://t.co/yYQqqp98TH
Johnson: Michael Thomas to officially be designated as post-June 1 release by the Saints.
Assuming Thomas is designated as a post-June 1 release, his cap figure won’t change until June 2, when it should drop from 12.4M to 11.2M in dead-money charges from previous signing bonuses. Then Saints will be charged another $9.2M in dead money next year for a total of $20.4M. https://t.co/I0l7m31ZEF
Mike Thomas is no longer under contract with the Saints, per source. He is now officially a free agent. A formality since his deal was only really for one year, but that formality is now official.
Broncos clear another $20 million in cap space via conversions. Here are a couple potential reasons why https://t.co/KWo4ltPjkv
The #Giants are set to release QB Daniel Jones and designate him a post-June 1 cut, per source.
An immediate release of Jimmy Garoppolo would free up $11.2M of space, while a Post June 1st Designation would open up $24M on June 2nd. Either way, it's $11.25M less because of his looming suspension. https://t.co/SrcOwFzyRc
Broncos clear another $20 million in cap space via converions. Here are a couple potential reasons why https://t.co/3OdRgaf1wJ