REPORT: Saints to release LB Kwon Alexander, WR Emmanuel Sanders

The New Orleans Saints are releasing linebacker Kwon Alexander and wide receiver Emmanuel Sanders, according to multiple reports.

The #Saints are expected to release LB Kwon Alexander in the coming days, source said, a move that saves them more than $13M against the salary cap with no dead money. Alexander is recovering from a torn Achilles, but will be ready for the start of training camp.

— Ian Rapoport (@RapSheet) March 10, 2021

The Saints traded a fifth-round draft pick to acquire the former San Francisco 49er last season. Alexander missed the postseason after suffering an achilles injury. He started in seven games for New Orleans.

Sanders joined the Saints last offseason. He recorded 61 receptions for 726 yards and five touchdowns.

The Saints also restructured the contracts of safety Malcolm Jenkins and offensive lineman Andrus Peat on Wednesday.

More restructuring to create salary cap space:
— #Saints S Malcolm Jenkins: $3.4M of extra room
— #Saints OL Andrus Peat: $6M
— #Eagles OL Isaac Seumalo: $2.408M
— #Steelers FB Derek Watt: $880K

— Ian Rapoport (@RapSheet) March 10, 2021

With the recent moves, the Saints are about $31 million over the salary cap, according to NewOrleans.Football’s Nick Underhill.

Saints save $13 million with the release of Kwon Alexander. Letting Sanders go clears $4 million in cap space.

Looks to be about $31 million or so left to clear.

— Nick Underhill (@nick_underhill) March 10, 2021