Saints Free Up More Salary Cap Overage By Restructuring Derek Carr's Contract

The Saints turn to their top salary cap hit of 2024 to free up a big chunk of their overage.

The Saints will have plenty of restructured contracts on the horizon, as they have to be cap compliant before the new league year rolls around on March 13. One of the biggest ways to get under the eventual bottom line figure was to look at Derek Carr. As first reported by ESPN's Jeremy Fowler and confirmed by Saints News Network, the team has restructured his contract to create $23 million in cap space.

Carr's hit in 2024 was the highest on the team at 10.9%, accounting for roughly $35.7 million. Restructured deals are a common practice New Orleans uses, and by doing this move, the player is not out any money, but the contracts are tinkered to allow space. This does mean that the team is a lot more committed to Carr by doing the move. Carr also has a new offensive coordinator and quarterbacks coach this season with the additions of Klint Kubiak and Andrew Janocko.

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New Orleans recently restructured the contract of Erik McCoy, and more moves will undoubtedly need to happen. Between McCoy and Carr, that's north of $30 million trimmed out of a potential $80 million deficit. The league is expected to finalize the salary cap number for the new season next week at the Scouting Combine, so that'll give us a more accurate picture of where the Saints are at.

Cap-cutting season is just another norm this time of year for Mickey Loomis, Khai Harley and company.