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New Orleans Saints are signing QB Derek Carr

Derek Carr

Derek Carr
D. Ross Cameron/Associated Press

New Orleans Saints sign Derek Carr to a four-year deal

The Derek Carr Raiders era is finally over, as the New Orleans Saints sign him to a four-year deal. The Saints remained the favorite to sign the 31-year-old QB the entire way through. Via Ian Rapoport.

After an ongoing debate on where Derek Carr is headed, it has finally settled. He will join the NFC South with the New Orleans Saints after nine years with the Raiders. In those nine years, Carr was selected to four pro bowls and had contention in MVP and offensive player of the year voting.

Carr’s Contract Details:

Carr will sign a four-year deal with the Saints this offseason. Carr’s deal will be worth $150 million with $100 million in total guarantees. He will get $70M effectively fully guaranteed ($60M at signing, another $10M in Year 3 vesting after Year 1). His contract will be able to be restructured to accommodate with the Saints cap problems, according to Ian Rapoport.

Saints Cap Scenario:

The signing of Carr will probably force the New Orleans Saints to release fellow QB Jameis Winston. This would save New Orleans $4.4 million against the Salary cap, but take on $11.2 million in dead cap. A post June 1st cut would save the Saints $12.8 million. Via Adam Schefter.

Currently, the Saints have around negative $18 million in cap space. With the signing of Carr, that number will only continue to drop. The Saints will have to continue to cut players to accommodate with the NFL’s rule on staying under the salary cap. They fine teams up to $5 million for each infraction of the salary cap. They can also confiscate draft picks and void play contracts as well. Some notable candidates for cutting are Michael Thomas, James Hurst, and Tre’Quan Smith.

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