Saints Reworking Derek Carr’s Contract, Frees Up $23M Of Cap Room

Jeremy Fowler of ESPN reports that the Saints are restructuring QB Derek Carr’s contract for cap relief.

According to Fowler, the Saints are converting a portion of Carr’s $30 million base salary into a signing bonus, which will in turn create $23 million of cap space for the team. 

The Saints are once again over the cap entering the offseason, so you can expect more moves from New Orleans just to get under the cap. 

Carr, 32, is a former second-round pick of the Raiders back in 2014. He was in the final year of his contract when the Raiders signed him to a five-year, $125 million extension that included $70 million guaranteed in 2017.

Carr stood to make a base salary of $19.77 million in the final year of his contract and was set to be an unrestricted free agent in 2023 when he signed a three-year, $121.5 million extension. 

However, the Raiders released Carr the following season and he signed a four-year, $150 million deal with the Saints. 

In 2023, Carr appeared in all 17 games for the Saints and completed 68.4 percent of his passes for 3,878 yards, 25 touchdowns and eight interceptions.