The Saints signed quarterback Derek Carr two years ago after he was released by the Raiders, and the contract was structured as a two-year guarantee with a team option after that.
Sooner rather than later, we’ll find out what the Saints decide.
Carr is now optimistic.
According to Katherine Terrell of ESPN.com, Carr stated on Monday that he has had “super positive” discussions with the team about 2025.
“I got to take care of myself, and then the rest is really out of my hands,” Carr said Terrell. “I’ve had fantastic chats with everyone in this building, including [GM] Mickey [Loomis], [owner] Ms. [Gayle] Benson, and everyone else. And we all have the same feelings, therefore my confidence is high, and who knows what can happen. And we’ve demonstrated what it could be at times. The difficult thing was that we had to deal with several issues such that we didn’t always have a clear image. So, we’ll see.
His $30 million salary for 2025 becomes fully guaranteed on the third day of the league year, March. The money is currently guaranteed for injury; if the hand injury that forced him to miss the final four games of the season has not healed enough for him to pass a medical by then, the $30 million commitment will become fully vested.
At the moment, one thing is clear. Carr will not accept less.
“I wouldn’t take a pay cut,” Carr replied. “Yeah, I would not do that. Especially with what I recorded on tape. Will I restructure? Absolutely. I’ll always assist the team in this way. But there are some things you put out there that you deserve. Even in certain circumstances, it may be worse, but when I signed it, I was confident that it would provide the squad with the most flexibility at the moment. But there’s always a sense of respect as a quarterback, and you’re like, okay, we’re still in the respectful lane. ‘We’re good. Build the team. But I wouldn’t accept anything less to do this. It’s difficult enough putting our bodies through it. And you’re doing everything you can to provide for your family.
Most multi-year senior contracts include a clause that allows the team to renegotiate the deal without the player’s consent. This requires changing a portion of his income into a guaranteed payment, which is then spread over several years, lowering his cap number for the current year.
At the very least, a restructure is in the works. His cap figure for next year is $51.458 million.
Carr’s post-June 1 designation would result in a $11.458 million dead money charge in 2025, with an additional $28.674 million hitting the cap in 2026.
Carr now has a fully guaranteed roster bonus of $10 million, which is due in March. If he is released, it will be subject to offset. If he earns more than $10 million with another team in 2025, the Saints will be relieved of their obligation.
The squad will also be hiring a new head coach. Presumably, the coach will have a say in whether Carr returns.
If he is cut, it will be early enough in free agency to allow him a fair shot to find a new team.
All of this implies Carr’s hand will be healed by mid-March. If not, there isn’t much of a choice to make. He’ll be owed $40 million, guaranteed.
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