Last updated on February 3rd, 2024 at 07:32 am
Quarterback Derek Carr will likely sign a restructured contract with the New Orleans Saints. According to sportsbook pay per head experts, the team must clear its salary cap space. Thus, the Saints might offer Carr a two-year contract worth $35.7 million.
In contrast to leaving Carr’s deal alone, allowing them to release him after the 2024 season with no cap penalty, contract restructuring would effectively lock him with the team for the following two seasons.
But no team in the NFL is more than $83 million above the salary cap than the Saints. The Saints could make up much of that gap if they restructured Carr. By turning all but the minimum veteran component of his contract into a signing bonus, they would save $21 million in 2024.
The Las Vegas Raiders released Carr last offseason following nine seasons as their primary quarterback. During that time, he was selected to four Pro Bowls.
Derek Carr to Have a Restructured Contract
According to Bwager.com betting software experts, the New Orleans Pelicans signed Carr to a four-year, $150 million deal. The Pelicans were looking for a quarterback to replace Drew Brees, who was expected to retire after the 2020 season.
With a 9-8 record, 68.4 completion percentage, 3,878 yards passing, 25 touchdowns, and eight interceptions, Carr had an uneven debut season in New Orleans.
Going into the season, the Saints were considered heavy favorites to win the NFC South. However, they were narrowly defeated by the 9-8 Tampa Bay Buccaneers in a divisional tiebreaker.
According to bookie pay per head reports, Carr had a solid year in 2023 despite the offense’s struggles. In his last four games, he threw for 12 touchdowns and only one interception.
Carr may not have a postseason win under his belt, and his ability to lead a team to victory is debatable, but the Saints probably won’t have a better choice.