Saints GM Mickey Loomis believes WR Michael Thomas can “absolutely” catch 100 passes again. "He's worked so hard (at getting healthy) over the last 2-3 years. And while the results haven't been good as we all hoped, it's not because of a lack of effort or desire by him, that's for sure,” Loomis remarked. Per beat writer Kat Terrell, Loomis added that everything is “pretty much according to plan” after Thomas recently had hardware removed from his foot. The 30-year-old appeared in only three games last year; seven in 2020. He projects as a bench stash in our fantasy football WR rankings.

Saints HC Dennis Allen said Tuesday that WR Michael Thomas still isn't back to 100% after November surgery to repair a dislocated 2nd toe. Thomas is "getting closer" and should be ready to go at some point this offseason, Allen added. Thomas, of course, has managed to play in just 10 games over the past 3 seasons and turned 30 earlier this month. He's no better than a risk/reward WR3 selection in early best-ball drafts -- especially until we know that he's over that toe issue.

Saints WR Michael Thomas is expected to remain with the team on a one-year deal, $10 million deal worth up to $16 million in incentives. Now Thomas will have an opportunity to get his career back on track with recently acquired QB Derek Carr. The oft-injured star wideout has only appeared in 10 games since 2019, a season in which he led the league in receptions (149) and receiving yards (1,725). It's justifiably fair for fantasy managers not to get overly excited about this news, but there's no doubting what Thomas is capable of at full strength. Maybe 2023 will finally be the year that the patience pays off.

QB Derek Carr and the Saints are working out a contract that could be done as soon as Monday afternoon, according to multiple reports. It's not a surprising turn for Carr, who had "lengthy" visit to New Orleans a month ago. His arrival will be good news for Saints second-year WR Chris Olave, who finished his rookie season 10th in yards per route run among all WRs with 30+ targets. WR Rashid Shaheed was among the nine players ahead of him (on far fewer targets), so that pair presents some big-play upside for Carr's stat line. That said, we can't upgrade the QB for leaving Davante Adams and Darren Waller. So the best hopes for Carr's ADP and fantasy football outlook are: 1) The Saints add more talent on offense; and 2) fantasy drafters don't boost him much from his current QB20 position. We'll see what else a cap-strapped New Orleans roster can add. And we'll see who teams such as the Jets and Panthers turn to at QB (after also courting Carr). WR Michael Thomas remains under contract with New Orleans as well. But he looks like a cut candidate that could help with the cap issues. Don't assume too strongly for now that he opens the year with the Saints.

Update: NFL Network's Ian Rapoport reports that Carr agreed to a four-year, $150 million deal, with $100 million in "total guarantees."

The Saints and WR Michael Thomas agreed to a restructured contract, ESPN's Field Yates reports. Thomas' 2023 base salary was reduced from $15.5 million to $1.165 million, with a $31.755 million roster bonus for the 2024 league year added that becomes fully guaranteed on the 3rd day of the 2023 league year. In short, this means we'll get a decision on Thomas' future with the Saints by mid-March. Releasing Thomas would still result in a dead-cap charge of nearly $26 million. Thomas turns 30 in March and has played in just 10 games over the past 3 seasons. He had surgery in November to repair a dislocated 2nd toe.

Saints WR Michael Thomas will undergo surgery to repair a dislocated 2nd toe, HC Dennis Allen said Thursday. Thomas originally suffered the injury in Week 3. "I don't think there was any complication," Allen said. "I think we followed what the doctors recommended in terms of trying to rehab it and give him an opportunity to play through it. We went in and had another MRI the other day, and it hasn't healed the way that everybody was kind of hoping it would. And so surgery is the next option." Allen didn't give a timetable for Thomas' return but confirmed that he's going on IR and added that he "doesn't anticipate" Thomas playing again this season. He can be dropped from redraft rosters.

Saints HC Dennis Allen said Thursday that he doesn't expect WR Michael Thomas to return this season from the foot injury that has sidelined him since Week 3. His absence will continue to present opportunity for WRs Marquez Callaway and Tre'Quan Smith, with Callaway the more direct replacement for Thomas' role. The veteran will turn 30 in March and still has 2 more years on his contract.

Saints WRs Michael Thomas (foot) and Jarvis Landry (ankle) are out for Sunday's game vs. the Raiders. HC Dennis Allen said Friday that there's no timetable for their returns, but that he does expect both guys to play again this season. WR Chris Olave should continue to dominate targets this weekend, with Marquez Callaway and Tre'Quan Smith as New Orleans' #2 and #3 WRs.

Saints WRs Michael Thomas (foot) and Jarvis Landry (ankle) missed practice again on Thursday. Both guys are long shots to play vs. the Raiders this weekend.

Saints WRs Michael Thomas (foot) and Jarvis Landry (ankle) remained sidelined on Wednesday. Fantasy owners shouldn't be counting on either guy in Week 8 lineups.

Saints WR Chris Olave stepped up in Week 7 with 7 catches for 106 yards. The rookie has now hit 50 yards in 5 straight, a stretch that includes 53 targets. Of course, it’s helped that Jarvis Landry has missed the past 3 games; Michael Thomas has missed the last 4. But watching film on Olave, it’s clear that he deserves a sizable weekly role. The analytics back it up, as he ranks 9th in yards per route run (2.46) among 82 qualifiers. We'll see about the statuses of Olave’s veteran teammates. But even if they're active, Olave will profile as a WR3+ for Sunday’s home matchup with Vegas.

The Saints have ruled WR Michael Thomas (foot), WR Jarvis Landry (ankle) and TE Adam Trautman out for Thursday night's game against the Cardinals. WR Chris Olave, on the other hand, should be set to return after missing Week 6 with a concussion. Trautman's absence boosts TE Juwan Johnson, who garnered 6 targets Sunday with Trainman leaving early.

Saints WRs Michael Thomas (foot) and Jarvis Landry (ankle) remained sidelined on Tuesday. Neither guy is expected to play vs. the Cardinals on Thursday night, leaving Chris Olave, Tre'Quan Smith and Marquez Callaway as New Orleans' top 3 WRs.