As reported by CBS’ Jason LaCanfora, the Saints have restuctured WR Marques Colston’s deal to create cap space. They also offered Jonathan Vilma and Will Smith lesser deals.
Saints, in need of cap space, completed a restructured deal with WR Marques Colston. Have offered W. Smith and Vilma lesser deals to stay
— Jason La Canfora (@JasonLaCanfora) February 27, 2013
For the Saints, these are necessary steps to not only make sure they are in compliance with the cap, but also trying to free up money to pay top priority free agent tackle Jermon Bushrod.