Drew Brees' Saints Contract Targeted to Be Done Before Free Agency, Says Loomis

The New Orleans Saints are hopeful of sorting out Drew Brees' contract within the next few weeks.

General manager Mickey Loomis said Thursday the NFL Scouting Combine the Saints are aiming to reach a deal by March 18, when free agency officially opens, per The Athletic's Katherine Terrell.

Brees announced earlier this month on Instagram he intends to play in 2020.

"

Drew Brees announces he's returning for the 2020 season @brgridiron pic.twitter.com/GzHdfojnGO

— Bleacher Report (@BleacherReport) February 18, 2020"

Although everybody expects the 41-year-old back in New Orleans, the specific details of his contract could prove tricky.

The Saints are projected to have only $9.3 million in salary-cap space, per Over the Cap. Even assuming Brees gives the team a hometown discount, he counted for more than twice that figure ($22.7 million) in 2019.

Having Brees on the roster also means Loomis needs to strike a delicate balance between trimming payroll and keeping enough talent to contend for a Super Bowl.

Kiko Alonso and Janoris Jenkins are two obvious candidates to be out the door since they'd free up $19.1 million in cap space while leaving the team with only $850,000 in dead money, according to Over the Cap. But Loomis would still need to create more financial flexibility to not only re-sign Brees but also make upgrades in free agency.

Loomis told reporters in January 2019 the team had successfully "kind of kicked the can down the road a number of times."

At some point, the Saints will have to answer for their short-term financial approach and make significant cuts that would presumably trigger a rebuild or transitional phase.

Perhaps Loomis can once again successfully navigate around the cap this spring to capitalize on the Saints' shrinking Super Bowl window before it closes completely.