The Saints have been allocated $4.564 million for their 2002 rookie pool.
After the draft, each NFL team is assigned by the league a dollar value that is the most a team can spend on its drafted and undrafted rookies. This undrafted rookie pool fits underneath the team's total salary cap, but is in place to essentially limit a teams' spending on high-round draft picks.
The Saints, who had four picks on the first day including a pair of first-round selections, were given the 7th largest rookie pool in the league.
As expected, the Houston Texans and their 13 draft picks were given the largest rookie pool by far, a $6.35 million it is more than $1.2 million higher than the second-largest pool, given to the Buffalo Bills. The Bills had 10 choices including the 4th overall selection.
The Miami Dolphins with their 5 choices including only one on the first day, were given the smallest rookie pool, only $1.443 million.
The limit is double-edged sword for NFL teams. It is first off a major weapon for use against the agents of high-priced rookies, giving teams an excuse to barter down the massive signing bonuses that first-round selections garner. It also limits the amount of money teams can spend on securing undrafted free agents.