Saints Restructure Derek Carr's Contract, Saving $23M in Cap Space

The New Orleans Saints have successfully restructured quarterback Derek Carr's contract, converting a significant portion of his salary into a signing bonus to alleviate salary cap pressures.

The restructuring of Derek Carr's contract is expected to save the New Orleans Saints approximately $23 million in salary cap space.
The move involves converting a large portion of Carr's $30 million base salary for 2024 into a signing bonus.
This strategic financial maneuver is part of a broader effort by the Saints to manage a projected salary cap overage of more than $50 million.
In addition to Carr, the Saints are also reworking the contracts of defensive end Cameron Jordan, center Erik McCoy, and guard Cesar Ruiz.
Derek Carr, who passed for 3,878 yards last season with 25 touchdown passes, remains under contract with the Saints through the 2026 season.