Salary cap for the Saints following Derek Carr’s restructured contract and early free agency actions
The New Orleans Saints need salary cap relief going into the offseason, and some of their early free agency signings might help.
According to ESPN’s Jeremy Fowler’s report on February 23, quarterback Derek Carr of the Saints was the first to try to aid the team’s flexibility in free agency, having altered his deal for the 2024 campaign.
After agreeing to a four-year, $150 million contract with the Saints during the summer, he was initially expected to make $30 million in base salary alone. According to Fowler, the change freed approximately $23 million in cap space.
Linebacker DeMario Davis’ contract with New Orleans was adjusted to include a two-year, $17.25 million guarantee that includes $13.25 million fully guaranteed, according to a report published on Monday by ESPN’s Adam Schefter.
Additionally, Tyrann Mathieu, a safety, agreed to a two-year deal last week, which will lower his salary for the 2024 campaign, according to a report by ESPN’s Katherine Terrell.
Even still, the Saints have a lot of work ahead of them, as Over the Cap currently has them near the bottom of the league with only roughly $1.1 million in salary cap room available.
Marcus Maye, a safety, is reportedly going to be released, but the team will only save $1.1 million as a result. In order to free up $1.5 million for New Orleans, star defensive end Cameron Jordan also altered his contract, according to Schefter, who also mentioned that guard Cesar Ruiz, defensive tackle Nathan Shepherd, and center Erik McCoy had their contracts adjusted.
Carr started every one of the team’s 17 games during his debut season in New Orleans, helping them to a 9-8 record. He completed 68.4% of his throws for 3,878 yards, 25 touchdowns, and eight interceptions. It was his lowest total of eight picks since 2019.
Carr had a strong season, but the Saints failed to make the playoffs for the third consecutive year. Carr also had injuries throughout the season; in Week 3, he sprained his shoulder’s AC joint and missed two games due to concussions.
Following the season, Carr was given a vote of confidence by general manager Mickey Loomis of the Saints.
During his season-ending news conference, Loomis stated, “I think he did a lot of nice things.” Undoubtedly, it wasn’t flawless, but I believe he accomplished a great deal of good.
Additionally, Loomis expressed support for Dennis Allen, the head coach of the Saints, who some had guessed was under pressure.
On the other hand, the team’s coaching staff lost veteran offensive coordinator Pete Carmichael, wide receivers coach Kodi Burns, running backs coach Joel Thomas, and senior offensive assistant Bob Bicknell.
In 2024, Carr hopes to lead the Saints back to the postseason by putting together a more reliable season.
In order to strengthen its roster for the upcoming campaign, New Orleans is hoping that these early contract restructures will allow the team to recruit more quality around Carr.
