Saints restructure C Erik McCoy

NEW ORLEANS, LOUISIANA - AUGUST 23: Erik McCoy #78 of the New Orleans Saints warms up before a preseason game against the Denver Broncos at the Caesars Superdome on August 23, 2025 in New Orleans, Louisiana. (Photo by Derick E. Hingle/Getty Images) | Getty Images

It's early in day two of free agency and the New Orleans Saints are already making money moves by restructuring the contract of center Erik McCoy.

The #Saints processed a simple conversion on C Erik McCoy's contract, converting $9.2M of salary/roster bonus into signing bonus, clearing $7.36M of space.

Updated Cap Hits
2026: $10.3M
2027: $17.9M
2028: $10.8M (void)

- Spotrac (@spotrac) March 10, 2026

McCoy signed a five-year, $63.75 million contract extension with the Saints in 2022.

By converting some of his base salary into a signing bonus, McCoy's cap hit of $17.68M is now reduced to $10.32M which will now save the Saints little over $7.3M against the salary cap.