The New Orleans Saints have made the biggest move of the young NFL offseason, signing four-time Pro Bowl quarterback Derek Carr to a four-year, $150 million contract.
We can debate until we’re blue in the face the value of signing Carr at that price. But we can all agree that Carr at least provides head coach Dennis Allen and Co. with some stability at quarterback. New Orleans has not had that since future Hall of Famer Drew Brees retired following the 2020 season.
This doesn’t solve all the issues in the Bayou. New Orleans is coming off an ugly seven-win season. It remains in salary cap hell, something that’s not going to be aided by the contract Carr signed.
With that said, these Saints exist in an NFC South that was won by an 8-9 Buccaneers team that just lost Tom Brady to retirement. There’s a window to compete. Here’s a look at three moves the Saints must now make after signing the aforementioned Carr.
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New Orleans Saints release Michael Thomas
Thomas appeared to be super excited about the Carr signing once it was announced. Unfortunately, he might not ever catch a pass from the new quarterback in New Orleans. A record-breaking receiver back in 2019, Thomas has played in just 10 games since then. He missed the entire 2021 campaign to an ankle injury and played in just three games this past season.
The writing certainly seems to be on the wall here. While releasing Thomas with a post-June 1 designation would save the Saints only $1.36 million against the 2023 NFL salary cap, it would have long-term ramifications for a team that simply can’t push back its financial issues. Thomas is slated to count nearly $60 million against the cap in 2024. By moving off him now, New Orleans can create a healthier cap situation down the line.
The Saints also have an abundance of skill-position talent to make up for the loss of Thomas. This includes stud young receiver Chris Olave as well as breakout performers in that of Juwan Johnson and Rashid Shaheed. While running back Alvin Kamara’s looming suspension impacts things, moving on from Thomas right now makes the most sense.
Related: New Orleans Saints NFL salary cap situation
Darren Waller heads to New Orleans
What better way to make your shiny new quarterback happy than by trading for his favorite target? We’ve heard plenty of rumors that the Las Vegas Raiders are willing to move Darren Waller after he dealt with an injury-plagued 2022 season. Saints general manager Mickey Loomis already had discussions with Vegas’ front office about a Carr trade before he was granted his release. It just makes too much sense for him to circle back to the Raiders.
From 2019-21 with the silver and black, Waller tallied a combined 252 receptions for 3,006 yards and 14 touchdowns. The idea of having him team up with Juwan Johnson would be just perfect. From a financial perspective, Waller’s base salary of $11 million in 2023 could be troublesome. But the Saints would be able to work out something with the Pro Bowl tight end to make this work.
Related: New Orleans Saints’ Derek Carr and the NFL’s highest-paid QBs
New Orleans Saints draft day trade
Loomis and Co. don’t have their original first-round pick. That selection (10th overall) is in the hands of the defending NFC champion Philadelphia Eagles. However, New Orleans does boast the 29th overall pick stemming from the Sean Payton trade to the Denver Broncos
Picks late in the first round can be valuable trade assets with teams looking to acquire that fifth-year option on a rookie contract. In particular, quarterback-needy teams at the top of Round 2 typically look to call up for a potential trade.
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In a less-than-stellar cap situation, the New Orleans Saints would be better off adding a few draft picks to the mix while moving down to the middle of the second round. It could create more depth while making the team viable moving forward.
