New Orleans Saints restructure Derek Carr’s Contract to help Awful 2024 Cap.
Jeremy Fowler reported early Friday morning that the New Orleans Saints are restructuring Derek Carr’s contract to save 23 million dollars for their 2024 cap.
Carr can also decide to help out the New Orleans Saints by converting some of his $30 million due into a signing bonus.
New Orleans Saints Relief
This news will relieve some New Orleans fans, as the Saints are the worst team in the league for their 2024 cap numbers.
“The Saints had a manageable $35 million in dead money in 2023 — about 15 percent of the salary cap, but a necessary evil the way they’ve attacked the salary cap. Right now, they’re on the books for $28 million in dead money for 2024 from expiring contracts, but that could get much, much higher.” According to Fox Sports.
The Saints have the worst salary cap situation in the NFL. They’re somehow $82 million over the cap, according to Spotrac.
With the Derek Carr news, the New Orleans Saints have now improved to 59 million dollars over the cap. We will see if anything else surfaces with Carr’s contract.
More Potential Cap Moves
Many more potential moves will be forthcoming with the New Orleans Saints. The top candidate (according to PFF.com) is safety Marcus Maye.
“The Saints will have to restructure virtually every big contract on their roster, as is tradition, but Maye offers legitimate savings as a post-June one release. Fifth-round rookie Jordan Howden flashed some promise down the stretch after Maye was lost for the season with a shoulder injury.”
Ryan Ramczyk is another potential candidate, although his might be based on his directives. “If tackle Ryan Ramczyk has to retire due to a lingering knee injury, that would mean $35.4 million in dead money, though the Saints can designate that as a post-June 1 move, which would split the damage between $16.5 million this year and $18.8 million in 2025. They would also shed his $17 million non-guaranteed salary for 2024, so the move frees up a much-needed $10.5 million this year, though at 2025’s direct expense.”
Alvin Kamara, Micheal Thomas, and Cam Jordan are names that pop up for potential restructures as well.
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2 Comments
What are the potential consequences or implications of restructuring Derek Carr’s contract for the New Orleans Saints’ 2024 cap situation?
It saves roughly 23mil in cap space initially with the restructure. There is another 30mil available that can be converted into a signing bonus. The Saints won’t fork over the entire thing, but they could convert some of it to save even more.