Heading into the 2014 season, the Saints have some major salary cap problems they'll have to attend to before the team begins to play. As of this writing, New Orleans is about $12.7 million over the cap limit, which means the Saints are going to have to start cutting some high-priced talent.

As such ...

Smith had the second-biggest cap figure on the team -- the largest, at $18.4 million is Drew Brees, and he's certainly not going anywhere -- and at the age of 33 going into 2014, Smith is coming off an ACL tear that destroyed his entire 2013 season.

This doesn't figure to be the last of the cap cuts the Saints will make, especially considering they have to figure out how to sign tight end Jimmy Graham to a long-term deal (or figure out how to pay for a franchise tag).