Ex-Raiders QB Derek Carr agrees to deal with Saints

[milestogo]

Former Las Vegas Raiders quarterback Derek Carr has agreed to a four-year contract with the New Orleans Saints, the team announced Monday.

Financial terms were not disclosed but sources told ESPN that Carr agreed to a deal that could potentially be worth up to $150 million and includes up to $100 million in guarantees. Carr will receive $60 fully guaranteed at signing and another $10 million once he starts Year 3 of the deal, the sources said. He will earn $60 million in the first two years of the deal.

The Saints, who finished 7-10 last season, were among three teams, including the New York Jets and Carolina Panthers , to have pursued Carr for several weeks. Carr, 31, visited New Orleans and met with several members of the organization over two days in early February. He also met again with the team last week at the NFL scouting combine in Indianapolis.

The Saints entered the offseason more than $50 million over the expected 2023 salary cap of $224.8 million but now need about $18 million to become compliant after contract restructures for several players. The next question after Carr is what they'll do with wide receiver Michael Thomas , who restructured his contract earlier in the offseason to give both sides more flexibility ahead of free agency. He remains under contract at this time.

https://www.espn.com/nfl/story/_/id/35797963/sources-saints-front-runners-sign-qb-derek-carr

[sabbat hunter]

1. How were they

able to sign him, when they were over the cap even before signing him?

[Auggie]

3. Probably restructured a few contracts

[sabbat hunter]

4. Nope

They are still over the cap. They already restructured contracts. Still over.

The Saints entered the offseason more than $50 million over the expected 2023 salary cap of $224.8 million but now need about $18 million to become compliant after contract restructures for several players. The next question after Carr is what they'll do with wide receiver Michael Thomas, who restructured his contract earlier in the offseason to give both sides more flexibility ahead of free agency. He remains under contract at this time.

https://www.espn.com/nfl/story/_/id/35797963/sources-saints-front-runners-sign-qb-derek-carr

[Auggie]

5. More speculation:

https://saintswire.usatoday.com/2023/03/06/nfl-salary-cap-new-orleans-saints-free-agency/

Hey, here’s some good news: ESPN’s Field Yates shared that the NFL completed its team-by-team audit of unspent salary cap space rolled over from the 2022 season, which helps set individual spending limits for every team in 2023. That includes the New Orleans Saints, who earmarked a modest sum of unused cap space last year to bring into the new league year.

So the maximum amount of salary cap resources the Saints can spend in 2023 is $224,161,167. That ranks sixth-lowest around the league, above a series of playoff teams like the Baltimore Ravens, Seattle Seahawks, Minnesota Vikings, and Kansas City Chiefs (plus the New England Patriots). That’s the company the Saints hope to join next January.

New Orleans is in the red by about $24 million after restructuring a number of veteran contracts and signing free agent quarterback Derek Carr, so they have more work to do. Expect more restructures, roster cuts, and maybe an extension or two before the Saints must reach salary cap compliance by the league’s March 15 deadline and the start of unrestricted free agency.

[Angleae]

6. The Saints are a master of doing this. They do it every single year.

[onecaliberal]

2. I am so happy for him. He's really a great person. Raises money for the local children's hospital

that cared for his son when he was born. He's big around here.