NFL Network's Tom Pelissero reports that Saints WR Michael Thomas' high-ankle sprain is "worse than originally believed and he's now expected to miss several weeks." Thomas' absence would push targets toward WR Emmanuel Sanders, TE Jared Cook, WR Tre'Quan Smith and RB Alvin Kamara -- and perhaps motivate the Saints to go more run-heavy. As recently as 2017 and 2018, this offense ranked among the most run-heavy in the league. The next 3 weeks bring matchups with the Raiders, Packers and Lions -- all of whom ranked 16th or worse in Football Outsiders run-defense DVOA last season. Then come the Chargers (25th) and a Week 6 bye. So you should probably prepare the possibility of going without Thomas until Week 7. Thomas' situation also hurts the fantasy outlook for QB Drew Brees, who threw for just 160 yards in the opening win over Tampa.

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.

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.