Saints Punter and NFC divisional round hero Thomas Morstead has signed a five-year extension to remain in New Orleans for the foreseeable future.
With the announced retirement of Zach Strief earlier this offseason, Morstead and Drew Brees remain the only two active Saints players from the 2009 Super Bowl season.
Morstead was set to cost $4.85 million against the 2018 cap, but exact details of his extension and restructure have yet to be announced.
#Saints punter Thomas Morstead tells AP he signed a new 5yr contract worth about $20 million (plus incentives) with $9 million guaranteed the 1st 2 yrs. It replaces final year of previous deal. His 47yds/punt among all-time leaders.— Brett Martel (@brettmartel) March 16, 2018
Morstead, acting as his own agent, says team approached him about extension and he didn't have any notion of exploring free agency or seeing "if the grass is greener elsewhere." Says his family loves the #Saints and New Orleans. https://t.co/8dT84aCrbp— Brett Martel (@brettmartel) March 16, 2018
Depending on how the bonuses/restructures are laid out for 2018, it’s possible the Saints could save up to $2.5 million against the cap. Now before you get to thinking about this being a precursor for a Ndamukong Suh signing, our own John Sigler has his own thoughts;
feels more likely that the Morstead extension is gonna make cap space for the Okafor re-signing than a conract for Suh, but ya never know— John Sigler (@john_siglerrr) March 16, 2018