They can free up 75 million by:
Brees retiring, cutting Malcom Brown, Nick Eason, Lattimore(or trade), Taysom Hill, Janoris Jenkins, Emmanuel Sanders, Rankins, and then cutting or trading Ramczyk and Kwon Alexander.
Some of those guys will have trade value.
Guys like Cam Jordan Can restructure and save roughly 7mil for 2021.
Michael Thomas can be restructure, convert 11.6mil to a bonus, and save ~8mil in cap space.
Add in the cap isn't set, and the rumors the NFL may allow teams to borrow cap from future years.
It's really not that hard. They will have to shed some talent, but they will still have their young core locked up.
They will probably "rebuild" the next few years.