Mike Triplett ESPN Staff Writer
Saints WR Cameron Meredith agreed to a pay cut that reduced his base salary from $3.4 million to $1.3 million, a source told ESPN's Field Yates, dropping his salary-cap number to $4.15 million. That makes sense, since the Saints are still optimistic about Meredith's potential now that he is almost two years removed from a major knee injury. But they had to weigh whether it was worth keeping him when he was due a total of $5.05 million in salary and bonuses. If Meredith returns to form this summer, he still has a chance to emerge as New Orleans' top slot receiver – especially since they didn't sign any of the top slot receivers available on the free agent market this year.