Just in – Saints suspended Derek Carr today.
Saints QB Derek Carr has reportedly restructured contract to clear up $23M in cap.
According to ESPN, the New Orleans Saints have allegedly reworked quarterback Derek Carr’s deal to provide them $23 million in cap savings.
Carr signed a four-year contract for up to $150 million in 2023, and his current contract expires in 2026. To assist the team come closer to being under the limit, New Orleans turned his $30 million basic salary for the 2024 season to a signing bonus.
Carr passed for 3,878 yards, 25 touchdowns, and eight interceptions in his debut season with New Orleans. Additionally, despite the Saints’ 9-8 record in his debut, they could only finish second in the NFC South because the Tampa Bay Buccaneers won the tiebreaker and advanced to the postseason.
With $53.7 million above the salary limit, the Saints have the second worst cap scenario in the NFL right now. The greatest beneficiary of cap relief for New Orleans is likely to be Carr, as the team looks to free up about $80 million.
Free agency is only two weeks away, legal tampering begins on March 11, while teams can officially sign free agents on March 13.
ESPN’s Jeremy Fowler also reported that the Saints will begin working on restructuring other deals, including Pro Bowl defensive end Cam Jordan, center Erik McCoy and guard Cesar Ruiz.
