Derek Carr Contract Details

Derek Carr's deal with the Saints will put him around $37.5 million annually. That's not a bad value for New Orleans.

Some contract details have emerged for new Saints quarterback Derek Carr. According to NFL Network's Ian Rapoport, the two have agreed upon a 4-year, $150 million contract that includes $100 million in guarantees.

DEREK CARR COVERAGE: Derek Carr Signs With Saints | Why Derek Carr Chose the Saints | Derek Carr's Epic Saints Tweet

The deal will average out to $37.5 million annually, and puts Carr right above Vikings quarterback Kirk Cousins. Carr receives a $60 million signing bonus, which appears to be paid out in the first couple of years, and his contract will be set up in 2023 to help with the Saints' cap issues. He'll get another $10 million guaranteed in Year 3, as Rapoport noted. He also has a no-trade clause built into the deal.

New Orleans still have some work to do to get cap compliant, but a host of restructures had them close to the mark. The new league year starts on March 15, so the Saints will have to be there prior to the 3 p.m. CT deadline.

We'll wait to see what happens with players like Michael Thomas and Jameis Winston, but it's interesting that Thomas tweeted out a "Thank You Jesus" with praying hands after the news had broke earlier on Monday. Other teammates have also voiced their pleasure with the move.

---

Read More Saints News

• Saints Announce Coaching Staff Additions
• Playing Out the Saints' Options for Quarterback
• Saints Nuggets and Notes from the Senior Bowl
• Saints G Cesar Ruiz Eligible for Fifth-Year Rookie Option
• Important Offseason Dates for the Saints
• 20 Questions We Have for the Saints in the Offseason