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Report: Adrian Peterson agrees to two-year, $7 million deal with Saints

Ex-Vikings running back Adrian Peterson expresses excitement over joining the Saints, but Mike Florio explains why his decision doesn't make much sense.

Adrian Peterson will be playing in the Minnesota Vikings season opener this September. He’ll just be doing so for the team on the opposite sidelines.

Peterson reportedly told Josina Anderson of that he has agreed to a two-year deal with the New Orleans Saints worth a total of $7 million.

Peterson also gave the full details of the contract as well. The deal is a one-year contract to start with an option for a second year for New Orleans. Peterson will earn $3.5 million in fully guaranteed money this season with a $2.5 million signing bonus and $1 million in guaranteed base salary.

His 2018 option would carry $3.5 million in non-guaranteed money with $2.4 million in roster bonuses. The $3.5 million comes from $1.05 million in base salary, $1.65 million in per game roster bonuses, a $750,000 roster bonus that triggers on the third day of the league year and a $50,000 workout bonus.

Incentives also exist that could raise the total value of the contract.

With those parameters in place, Peterson would carry a salary cap charge of $2.25 million this year for the Saints and a $4.75 million total charge in 2018.

The Saints currently have $8.5 million in salary cap space according to the NFLPA database.

New Orleans is set to visit Peterson’s former team on Monday Night Football to open the 2017 season.