A source told NFL Network the move clears $10.8 million off the Saints' cap. Brees will still receive his $23 million salary for 2019, but the move pushes the cap figure until 2020. He has a $12 million roster bonus for 2019.
Brees, 40, signed a two-year, $50 million contract with the Saints in March 2018. The pact included $27 million in guarantees. He'll have a cap hit of $21.3 million in 2020, even if he decides to retire.
The 12-time Pro Bowl selection, Super Bowl champion and former Comeback Player of the Year led the league with a career-high 74.4 completion percentage in 15 starts last season Brees also led the NFL with a 115.7 quarterback rating while passing for 3,992 yards, 32 touchdowns and five interceptions for the 13-3 Saints. Brees had a 13-2 record as a starter in 2018.