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What does the Marshon Lattimore restructure mean for his future in New Orleans?

The New Orleans Saints needed salary cap space to, at minimum, sign their 2021 draft class, and Marshon Lattimore obliged, agreeing to a restructure that freed up upwards of $7 million in cap space for 2021.

What does this mean for Lattimore’s contract status? Why would Lattimore agree to a restructure if an extension wasn’t on the horizon? Why would the Saints do it?

For the Saints, the motivation is clear: The team needed cap space to sign their draft class (and maybe make another move or two this offseason?), and their roster didn’t allow for any fat to be trimmed in the form of a release.