Before the Saints traded wide receiver Kenny Stills to Miami for linebacker Dannell Ellerbe and a third-round pick, Ellerbe was thought to be on the road to release because of the cap hit that came with his $8.425 million salary for 2015.
The Saints have added Ellerbe, but it will be at a more agreeable figure. Ian Rapoport of NFL Media reports that Ellerbe has agreed to restructure his contract following the trade to New Orleans. No details are available, but it may wind up being a straight pay cut since Ellerbe has no guaranteed money left in his deal and converting a portion of the salary would raise the cap hit down the line.
New Orleans also saved a little more money by releasing cornerback Corey White. The move saves about $1.5 million, although White’s play last season did plenty to justify the move from a performance perspective.
White started nine times before being replaced by Terrence Frederick on the first team as the Saints made a futile effort to finish on top of the lackluster NFC South last year.
