Report: Saints restructure Armstead's contract to create $4M in cap space

The New Orleans Saints have restructured the contract of left tackle Terron Armstead to create an additional $4 million in cap space for 2017, ESPN's Field Yates reports, citing a source.

Converting the initially scheduled $5-million roster bonus into a signing bonus allows the Saints to spread the salary-cap hit evenly over the length of the five-year extension Armstead signed last offseason.

While the move may simply be a matter of freeing up some extra money for additional flexibility in filling out the roster, it's also possible that the Saints are gearing up to dish out a lucrative contract to a certain restricted free agent.

All indications since hosting him on an official team visit have been that the Saints and New England Patriots cornerback Malcolm Butler are in the process of working out an agreement.

Related - Report: Saints, Butler have parameters of deal 'mostly' in place

Whether it's by way of an offer sheet that New England declines to match, or Butler signing his tender with the Patriots and the two teams working out a trade for compensation less significant than his first-round designation requires, New Orleans still appears to be the front-runner for his services.

Injuries limited Armstead to just seven games after his steady play was rewarded with a five-year, $65-million contract in May. The 25-year-old's healthy presence up front will be imperative for a Saints team setting its sights on another championship run while Drew Brees is still around.