The New Orleans Saints have been trying to cheat the NFL salary cap for quite some time. It began when Drew Brees was holding down quarterback duties as the team borrowed from the future to expand upon its championship window. However, they’ve continued with the practice even in the post-Brees era, minus the success.
Sooner rather than later, the bill is going to come due. And after the 2024 season went awry and Derek Carr went down with an injury, it seems like 2025 might be when the jig is up. Carr doesn’t plan on making that process any easier by taking a discount.
Derek Carr Adamant on His Price Tag
Carr came to the Saints after the Las Vegas Raiders cut him two years ago. Initially agreeing on a four-year deal, the team can pivot after 2025, and his first two seasons in New Orleans haven’t gone as planned.
Even though he was adequate individually, the team faltered, finishing 5-12 this year after ending last season at 9-8. Making matters worse was the Saints’ poor luck — Carr missed the final four games of the season with a hand injury. For now, he believes he’ll be under center in New Orleans next season.
“I got to take care of myself and then the rest after that is really out of my hands. I’ve had great conversations with everyone in this building with [G.M.] Mickey [Loomis], with [owner] Ms. [Gayle] Benson, with everybody,” Carr revealed.
“And we all have mutual feelings and so my confidence level is very high and what can happen, what could happen. And we’ve shown what it could possibly be at times. The hard part is we had to deal with some stuff that we didn’t get to see that full picture all the time. So we’ll see.”
Carr’s contract includes $30 million of guaranteed money that kicks in on the third day of the league year. Albeit unlikely, if the hand injury isn’t fully healed, he does have an injury guarantee that would vest the entire sum to him.
While that $30 million could impact the Saints’ valuation of the quarterback, Carr isn’t keen on taking a pay cut.
“I wouldn’t take a pay cut,” Carr said. “Yeah, I wouldn’t do that. Especially with what I put on tape. Would I restructure? Absolutely. I’ll always help the team that way. But there’s some things that you put out there that you earned. Even in some cases it could be even worse, but I felt confident when I signed it that this would give the team the best flexibility at the time.”
The tape he put on wasn’t anything to scoff at. According to PFN’s QB+ metric, Carr had the 11th-highest grade in the league at 83.7 (B). That number put him ahead of names like Sam Darnold, and Jordan Love, and just one spot shy of Patrick Mahomes.
His value to the team became clearer this season as New Orleans went 5-5 with him in the lineup. Without his presence, they did not win a single one of their remaining seven games.
The team could restructure the deal, especially with the $51.458 million cap hit looming. Cutting him wouldn’t completely solve their salary issues, as he would still account for nearly $22 million in dead money (with a post-June 1 cut) in 2025.
The Saints already have a busy offseason ahead of them. After firing head coach Dennis Allen midseason, they have to figure out if Darren Rizzi will remain their full-time coach or if a new voice will right the ship.
Further, the future of players like Ryan Ramczyk, Cameron Jordan, Tyrann Mathieu, and Taysom Hill also needs addressing. Add those veterans to the quarterback situation and the bill might finally be coming due in New Orleans.