According to his calculations, the renegotiated deal saves the team $3.44 million for this year by dropping his 2013 cap figure from $7.1 to $3.66 million, which places them nearly at $5.2 million under the salary cap.
Clicking through to Hogan's article will let you peruse an alphabetical listing of NFL teams and their current 2013 cap figures, and see that some teams have LOTS more room under the cap than the Saints.
So, what does this mean for Payloo? Will they go after another FA guy right now? Or till they wait and see if anyone decent gets cut at the end of preseason?
This gives us fuel for more speculation on a Saturday - my favorite cup of tea!!