There are scenarios in play that have Derek Carr and the New Orleans Saints playing postseason football in the matters of just over a week.
Unfortunately, New Orleans does not control its destiny in either the NFC South or NFC Wild Card race. It is certainly heading into a must-win against the Atlanta Falcons on Sunday.
Carr gave a Q&A with media immediately ahead of that huge NFL Week 18 matchup. Some of the focus turned to the offsason and how the Saints might be able to improve after the Pro Bowler’s first season in the Bayou.
In particular, Carr was asked about potentially restructuring his contract as a way to help the Saints create more room under the NFL salary cap. His response was as expected.
“If it helps the team and I saw the plan and I knew where it was gonna go, man, let’s figure it out. Not even a question. I came here to win, so whatever we gotta do, I’m all in,” Derek Carr on potential contract restructure.
This comes on the heels of reports indicating that Saints star cornerback Marshon Lattimore has opted to restructure his contract. As of right now, the Saints are projected to be $75 million over the cap in 2024. Obviously, general manager Mickey Loomis has a lot of work to do in that regard.
- Derek Carr contract: 4 years, $150 million w/ $100 million total guaranteed
Carr, 32, inked that deal after being released by the Las Vegas Raiders following the 2022 season. The details are seemingly team-friendly. It includes an out following the 2025 season with a $27 million cap savings.
But for New Orleans, thinking shorter term should be the name of the game. If the team is going to have any chance of competing with its current cap restraints, restructuring Carr makes the most sense.
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What a Derek Carr contract would look like for the New Orleans Saints
Carr’s current deal calls for a $35.7 million cap hit in 2024. That’s because the Saints pretty much back loaded it ($7.2 million cap hit in 2023).
Depending on how the structure plays out, redoing Carr’s contract could save the Saints north of $23 million for next season. Sure, it would create a trickle-down effect moving forward with Carr’s cap figure increasing down the line. But it’s a move New Orleans has to seriously consider making.
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Carr’s first season with the Saints has been up-and-down. He’s completing 68% of his passes for 3,614 yards with 21 touchdowns and eight interceptions.
New Orleans ranks 14th in the NFL in scoring at 22.1 points per game. However, red-zone struggles have been the name of the game.
For many Saints fans, locking up Carr longer term for immediate cap savings might not sit too well. But that’s the financial situation the Saints find themselves in right now.