NEW ORLEANS -- Trading Chris Ivory gave the Saints breathing room against the $123 million salary cap while also delivering the team an eventual extra third-round draft pick.
Shortly before 3 p.m. Tuesday, the website of the NFL Players Association listed the Saints as having more than $3.1 million in room under the cap.
Ivory had signed his $2.02 million tender just prior to this past week's draft.
The Saints picked up a fourth-round pick for Ivory from the New York Jets. New Orleans packaged that pick with its own fourth-round pick to Miami for the Dolphins' third-round pick.
New Orleans then used the No. 82 overall pick to select defensive lineman John Jenkins from the University of Georgia.
Cap-wise, the Saints aren't the worst among NFC South member. Atlanta sits just $2.18 million under the ceiling. Carolina is $5.27 million under the cap.
Tampa Bay, meanwhile, is $19 million below the cap, meaning the Bucs hold the fifth-most cap space in the entire NFL.