The New Orleans Saints are making strategic financial moves this offseason, focusing significantly on quarterback Derek Carr’s hefty contract. According to a report by Nola.com, the Saints are exploring options to restructure Carr’s deal to alleviate the salary cap strain and position themselves as major players in the free agency market.
As the team aims to align with the NFL’s salary cap requirements by March 13, Carr’s looming $35.7 million cap hit for the 2024 season is under scrutiny. The veteran’s contract, particularly hefty in base salary at $30 million for 2024, presents both a challenge and an opportunity for the Saints’ front office.
The possibility of restructuring could extend Carr’s tenure with the team, ensuring he remains a key figure in their offensive lineup beyond the immediate future. With no guarantees in his contract past the 2024 season, the Saints have a potential exit strategy should they decide to part ways. However, the focus now is on cap flexibility.
The Saints could dramatically reduce his cap impact next season by considering a restructuring plan that would convert much of Carr’s salary into a signing bonus. This move, potentially lowering his cap hit to about $14.2 million, would free up over $21 million in cap space, giving the Saints much-needed breathing room to bolster their roster through free agency.
Carr’s inaugural season with the Saints was a rollercoaster, marked by early struggles to acclimate to the complexities of the team’s offensive system. Despite a rocky start, Carr showed resilience and adaptability, finding his rhythm in the season’s latter stages. His final stats—3,878 passing yards, 25 touchdowns, and just eight interceptions—reflect a commendable turnaround and a promising outlook for his role in the Saints’ future endeavors.
The proposed restructuring is more than a financial maneuver; it’s a vote of confidence in Carr’s ability to lead the Saints’ offense. By securing cap relief, the Saints not only aim to retain their quarterback but also seek to enhance the team’s competitive edge through strategic acquisitions in the offseason.
This decision underscores the Saints’ commitment to building a winning team around Carr, leveraging his late-season surge as a foundation for future success. As the new league year approaches, the Saints’ management and fans alike will watch how this strategic financial play unfolds, potentially setting the stage for a revitalized roster ready to contend at the highest level.
