In 2023, Derek Carr’s net worth increased after he signed a lucrative four-year contract with the New Orleans Saints and reunited with his former head coach, Dennis Allen. Let’s examine what we know about Carr’s current salary, net worth, and career earnings.
Derek Carr’s 2024 Deal and Bonuses
In 2023, Carr signed a four-year, $150 million contract with the Saints, which included a $28.5 million signing bonus, $100 million guaranteed, and an average annual salary of $37.5 million.
In 2024, Carr will earn a base salary of $1.21 million and a restructure bonus of $28.79 million while carrying a cap hit of $12.6 million and a dead cap value of $62.8 million. His contract doesn’t even put him into the top 15 for NFL quarterbacks, showing the extensive market.
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The 33-year-old Carr is set to become an unrestricted free agent in 2027, and it remains to be seen if he’ll remain with New Orleans.
If Carr and the Saints have another disappointing year in 2024 and decide to part ways after June 1, 2025, they could save over $30 million by releasing or trading the veteran quarterback. Perhaps the Saints will turn things over to young quarterbacks Spencer Rattler and Jake Haener, or bring in another veteran QB who can take over the starting job.
What Is Carr’s Net Worth?
After signing his contract with the Saints in 2023, Carr’s estimated net worth is between $80 million and $85 million.
Throughout his career, Carr has earned $165.6 million from his NFL contracts alone. In 2025, Carr is set to earn a base salary of $30 million, while carrying a cap hit of $51.4 million and a dead cap value of $50.1 million.
In addition to his NFL contracts, Carr has a number of endorsement deals, including partnerships with brands such as Nike, Panini, Anchor, Oofos, and Haute Living. According to Forbes, Carr makes around $3 million annually from his endorsements.
Prior to joining the Saints, Carr had a productive stint with the Las Vegas Raiders, becoming the franchise’s all-time leader in pass completions, passing yards, and fourth-quarter comebacks. He went 63-79 across his nine seasons with the team, but only made one playoff appearance.
After signing with the Saints, he took the starting job away from Jamies Winston, who previously took over for future Hall of Famer Drew Brees when he retired. In his first season with the Saints, Carr went 9-8 as the starter while throwing for 3,878 yards, 25 touchdowns, and just eight interceptions while posting a 68.4% completion percentage.
The upcoming 2024 season is important for Carr and the Saints. New Orleans’ roster isn’t getting any younger, and another disappointing year that sees them miss the playoffs could lead to big changes, including a possible split from Carr.
