The New Orleans Saints have agreed to terms with left guard Andrus Peat, the deal is worth 5-year deal, worth $57.5 Million, $33 Million guaranteed.
A first round pick in 2015 taken 13th overall out of Stanford lands back with the Saints on a 5-year deal. Saints value Peat and guard become a glaring need. Saints bring back their own and Peat gets paid. They are working on keeping their guys in their building to compete in the now highly competitive NFC South.
Saints have re-signed Andrus Peat to a five-year contract— Nick Underhill (@nick_underhill) March 20, 2020
The contract details for Andrus Peat’s new deal have been released.
Cap hits— Nick Underhill (@nick_underhill) March 25, 2020
2020: $3.6 million
2021: $11.6 million
2022: $13.45 million
2023: $14.425 million
2024: $14.425 million
The Saints maintain their starting-five on the offensive line by only spending $3.6 million this season. Although Peat’s cap hit rises as the deal progresses, the Saint’s have essentially built a team-friendly three-year deal for Peat. New Orleans would be able to let Peat go after the 2022 season and take on only $5.2 million in deal money (money remaining from the $13 million signing bonus) and save $9.225 million in cap.
Per Underhill, the Saints will likely maintain Peat through the third year as his 2022 salary is guaranteed on the third day 2021 league year.
The $13.45 million cap hit in 2022 would rank sixth among guard cap hits in today’s NFL. With the rising salary and new revenue from the eventual 17-game season and subsequent TV deals. You can expect that ranking to topple by the time the 2022 season rolls around as contracts will only grow.