According to Mike Garafolo, the Saints will soon have to decide on veteran QB Derek Carr, who has a salary cap number of $51.46 million in 2025.
Garafolo notes that multiple teams will be interested if the Saints decide to release him, which is a possibility given New Orleans’ salary cap situation.
Earlier reports indicated that incoming HC Kellen Moore had reservations about the job given that the team still had Carr under contract.
At the end of the season, Saints GM Mickey Loomis vouched for Carr but acknowledged whoever was hired as head coach would have a significant voice in how the team handled the quarterback position going forward.
The Saints can theoretically cut Carr this offseason if they decide it’s time to move on. However, that would sharply curtail their options with the rest of the roster due to not being able to restructure his current 2025 cap hit.
Carr, 33, is a former second-round pick of the Raiders back in 2014. He was in the final year of his contract when the Raiders signed him to a five-year, $125 million extension that included $70 million guaranteed in 2017.
Carr stood to make a base salary of $19.77 million in the final year of his contract and was set to be an unrestricted free agent in 2023 when he signed a three-year, $121.5 million extension.
However, the Raiders released Carr the following season and he signed a four-year, $150 million deal with the Saints.
In 2024, Carr appeared in ten games for the Saints and completed 68.1 percent of his passes for 1,926 yards, 14 touchdowns, and four interceptions.
Derek Carr expected to draw trade interest if Saints move on
The Jets will not have Aaron Rodgers in the fold next season, meaning the team is committed to moving in a new direction under center. The Saints also have a notable call to make regarding their veteran quarterback.
Derek Carr is on the books for the next two years, and his compensation for the coming season represents a potential sticking point for New Orleans. A $10M roster bonus is due for 2025, and early in the new league year next month the 33-year-old’s $30M base salary is set to vest. A decision will need to be made before that point as a result.
Given the inconsistent nature of Carr’s two seasons to date (not to mention that fact he was limited to 10 games in 2024), the Saints could look to move on. In the event that were to take place, Mike Garafolo of NFL Network notes a market would likely exist for Carr’s services (video link). No commitment either way has been made at this point, something which remains the case until a head coaching hire is made.
General manager Mickey Loomis said last month the team’s next HC will have a say in deciding how the organization proceeds with Carr. The longtime Raider is by far the most experienced option on New Orleans’ depth chart, but turning to Spencer Rattler or Jake Haener would allow for the Saints to operate with a much less expensive QB starter. Considering the fact the team is once again projected to be well over the salary cap, financial savings would certainly be welcomed at any position. Carr has made it clear he is not prepared to accept a pay cut.
The Saints are of course the only team in the NFL without a head coach at the moment, but that will likely change shortly. Eagles offensive coordinator Kellen Moore is universally expected to be hired when New Orleans is allowed to bring him into the fold (i.e. any time after tonight’s Super Bowl). The former Cowboys and Chargers OC played as a quarterback, and expectations will be high for the Saints’ offense in general and the team’s play at that position in particular provided he is hired. A key decision will need to be made by Moore and Co. shortly after his (presumed) arrival, though.
As Garafolo notes, the pending free agent quarterback class is not well regarded. Aside from Sam Darnold, the likes of Rodgers, Justin Fields, Russell Wilson and – in the likely event the Falcons cut bait this offseason – Kirk Cousins are the top veteran options suitors will have to choose from. Especially with the crop of 2025 rookies viewed as lacking in clear-cut franchise passers, Carr could be a suitable short-term addition in the eyes of at least some suitors.
A Carr trade before June 1 would create over $11M in cap savings for the Saints, but it would generate a dead money charge of more than $40M. Waiting until after that date to trade (or, for that matter, release) him would be much more beneficial from a financial perspective. A direction will need to be chosen along a much shorter timeline, however, so it will be interesting to see how the Saints proceed.
