Saints sign Carr to 4-year deal worth reported $150M
The New Orleans Saints have agreed to a four-year deal with free-agent quarterback Derek Carr, the team announced Monday.
Carr's four-year contract is worth $150 million and contains $100 million in total guarantees, reports NFL Network's Ian Rapoport and Mike Garafolo.
He'll receive $70 million effectively fully guaranteed with $60 million due his way once the deal is signed, Rapoport and Garafolo add. The veteran structured his contract to assist the Saints' salary-cap issues. His contract also includes a no-trade clause, Garafolo reports.
Carr, who was released by the Las Vegas Raiders in February, also drew interest from the New York Jets and Carolina Panthers. The Saints were the first team to show interest in the veteran signal-caller, hosting him on a visit before he became a free agent.
The 31-year-old will reunite with head coach Dennis Allen in New Orleans. Allen was the Raiders' head coach in 2014 when they drafted Carr.
Carr threw for 217 touchdowns to 99 interceptions over a nine-year stretch as the Raiders' starting quarterback. He earned four Pro Bowl invites during his tenure.
However, his stint with the Raiders came to a difficult end. The veteran was benched for the final two games of the 2022 campaign after beginning the year with a 6-9 record. He completed just 60.8% of his passes, the lowest mark since his rookie year, for 24 touchdowns and 14 picks. Las Vegas then released the quarterback before $40 million of his 2023 salary was scheduled to become guaranteed.
Carr's arrival in New Orleans arguably provides the club with its most proven quarterback since Drew Brees.
The Saints struggled to find success with a combination of Jameis Winston and Andy Dalton under center last season. Winston started three games and threw for four touchdowns to five picks, while Dalton tossed 18 scores to nine picks but posted a 6-8 record.
Winston is under contract for the 2023 season, and Dalton is scheduled to become a free agent. But with Carr's signing, Winston is likely to be released to save cap space, according to ESPN's Adam Schefter. Cutting him would save $4.4 million, though marking it as a post-June 1 release would free up $12.8 million in cap space, Schefter adds.
New Orleans posted a 7-10 record in 2022 and missed the postseason for a second straight year.
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