The New Orleans Saints looked like the best team in the league through the first two weeks of the 2024 season, outscoring their two opponents by a combined 62 points. Then, the season unraveled. New Orleans lost seven straight games and won just three more games through the remainder of the season. Any momentary hope of playing Super Bowl LIX in their home stadium quickly vanished.
The disastrous campaign served as the latest reminder that the days of Sean Payton and Drew Brees are nothing but a distant memory, slowly becoming the ambiguous “good old days” that people reminisce about while the Saints are being shut out 34-0 against the Green Bay Packers in Week 16.
Although there’s a new regime, led by head coach Kellen Moore, the path back to relevancy will be difficult. The Saints entered the offseason facing a salary cap deficit of roughly $39.5 million, the largest deficit among all NFL teams. The most significant move to becoming salary cap compliant began with quarterback Derek Carr.
Saints’ salary cap move guaranteed Derek Carr a roster spot
New Orleans managed to significantly reduce their cap deficit on Saturday by restructuring Carr’s contract, which previously carried a cap hit of $51.4 million, via Spotrac. The team discussed multiple options for handling Carr’s compensation prior to converting most of the money into a signing bonus, per NFL Network’s Mike Garafolo.
The converted bonus made Carr’s $40 million salary fully guaranteed, which means he will be on the team’s roster throughout the 2025 season. Saints reporter Nick Underhill also noted that the restructure all but guarantees that Carr will be the team’s starting quarterback for the upcoming season.
The Saints initially approached Carr about a pay cut, which he refused, per Underhill. The embattled veteran will still receive the $40 million he was owed, but New Orleans managed to reduce roughly $31 million in cap space by reducing his cap hit to $20.4 million.
If there was any doubt at all before, there should be none now.
— Nick Underhill (@nick_underhill) March 8, 2025
Derek Carr is the starting QB in 2025.
The Saints signed Carr to a four-year, $150 million contract before the 2023 season, but the results have been less than favorable. In his first season with the team, Carr led the Saints to a 9-8 record while posting 3,878 passing yards with 25 touchdowns and eight interceptions.
The 33-year-old played just 10 games in 2024 due to multiple injuries. He missed three games with an oblique injury and was shut down for the season after fracturing his hand in Week 14. While Carr won five of his 10 starts, the Saints failed to win a single game without him. He threw for 2,145 passing yards with 15 touchdowns and five interceptions.
The Saints notably avoided moving any of Carr’s money into future years, which means he could be heading into his final season with the team. The Saints could save $40.4 million in 2026 cap space by releasing Carr with a post-June 1 designation next offseason. Releasing Carr with a post-June 1 designation this season would have freed up $30 million, which still would have been less than retaining him with the current restructure.