Saints Release TE Coby Fleener, Here’s How It Impacts The Salary Cap
Tight end Coby Fleener has been released by the New Orleans Saints, according to multiple reports, and first reported by Ben Volin of The Boston Globe.
Expectations were high for Fleener when he inked a 5 year, $36,000,000 contract a little over two years ago, with $8,000,000 guaranteed.
His final stats as a member of the Saints are a disappointing 72 receptions and 5 touchdowns in 27 games.
He suffered a concussion last season in a week 12 loss at Los Angeles, landing on injured reserve less than two weeks later.
Fleener's release is designated as a post June 1st cut.
Most NFL contracts leave the guaranteed money on a player's contract on a team's salary cap as "dead money".
Fleener will cost $8.2 million in dead money this season, but the Saints can save $3.0 million of that number in cap space this year with the post June 1st cut designation, bringing the total of his contract to less than $5.2 million in cap space in 2018.
However, according to Saints beat reporter Nick Underhill of The Advocate, Fleener's contract had offset language which could negate how much his deal negatively impacts the Saints cap.
If Fleener signs with another team, the total in his cap number will decrease based on the amount he signs for elsewhere.
According to sportrac, Fleener's dead money on the Saints books for 2019 is $3.2 million, and then $1.6 million in 2020.
Tight end is a position of need for the Saints, who were in the running to sign former New Orleans and Seattle tight end Jimmy Graham in free agency. Graham ended up signing with Green Bay.
The Saints still signed a former member of their team in 37 year old tight end Ben Watson, who joins veterans Josh Hill, Michael Hoomanawanui, Garrett Griffin, undrafted rookie Deon Yelder, and Alex Ellis at the position.