Report: Saints keeping Thomas on restructured 1-year, $10M deal

The New Orleans Saints are retaining wide receiver Michael Thomas on a restructured one-year, $10-million contract worth up to $15 million, a source told ESPN's Adam Schefter.

Thomas and the Saints reportedly began the week working toward a new contract.

The 30-year-old has been a top playmaker for New Orleans but has struggled to stay healthy since winning Offensive Player of the Year in 2019. He's played just 10 regular-season games over the last three seasons.

Thomas was limited to only three games during the 2022 campaign due to season-ending toe surgery. He missed the entire 2021 season because of complications from an ankle injury.

The Saints will reinsert Thomas into their receiving corps amid the emergence of Chris Olave and the arrival of new quarterback Derek Carr. Carr inked a four-year deal with New Orleans earlier this offseason.