The Saints have renegotiated Brees' contract to open up $24 million in 2021, Nick Underhill of NewOrleans.Football reports.

EDGE Analysis

This move allows the Saints to create cap space now, while waiting until June 2 to officially place Brees on the retired list should he ultimately decide to do so. Basically, they can split his bonus prorations in 2021 and 2022 instead of carrying the entire cap hit at once. Tom Pelissero of NFL Network reports that his contract is now down to base salary. Nothing has officially been announced about Brees' future, but this move is seemingly another signal towards retirement.