After exiting Las Vegas, the veteran quarterback scored a major bag at his new home — check out the details behind the Saints’ Derek Carr contract.
Derek Carr was about to finish a five-year, $125 million contract with the Raiders before the team benched him for the final two weeks during an underwhelming 2022 NFL regular season in which he threw a career-high 14 interceptions. Las Vegas negotiated an exit strategy with the QB this offseason and wasted no time, releasing the 31-year old on Feb. 14, saving them $40.5 million against the salary cap.
In the last month, Carr became one of the most notable free agents around the league. He met with several teams — namely the Jets, who were reportedly enamored of him — but no matter. On Monday, he reportedly came to a four-year agreement with the New Orleans Saints, with whom he had met multiple times during the search for his new home.
Consider this the first major shoe to drop in NFL free agency. Carr is now the first QB on the go to sign a long-term commitment and big-time contract, thus setting the market for more pending free agent QBs like Lamar Jackson, Daniel Jones, and Geno Smith.
In nine seasons with the Raiders, Carr thew for 35,222 passing yards, 217 touchdowns, and 99 interceptions, finishing with a 63-79 record in 142 starts. Keep in mind that quarterback Jameis Winston is still under contract for next season, so it’s likely that New Orleans cuts him. They’ll save $4.4 million against the cap (and eat $11.2 million hit in dead money) if they do it now; a post-June 1 cut would save $12.8 million.
Winston only started in 10 games over the past two years with lingering injuries, while backup Andy Dalton was forced to start 14 games (6-8) in 2022. Remembering as well that Saints head coach Dennis Allen was Carr’s own head coach for his first four games as a rookie in 2014, New Orleans can safely say it has a true QB1 for the first time since Drew Brees retired in 2021.
Let’s get into the numbers — check out the salary particulars of the Saints’ new Derek Carr contract.
Get on our list for weekly sports business, industry trends, interviews, and more.
Derek Carr Contract Details & Salary
All dollar figures as first reported by insiders Ian Rapoport and Mike Garafolo.
Years: 4
Total value: $150,000,000
Average annual value: $37,500,000
Guaranteed at signing: $60,000,000
Total guaranteed money: $100,000,000
Free agency: 2027
Derek Carr’s Career Earnings
Salary data via Spotrac.
CAREER BASE SALARY: $89,942,519
CAREER SIGNING BONUSES: $22,226,764
OTHER BONUSES/INCENTIVES: $23,497,112
TOTAL SALARY EARNINGS THRU 2022 SEASON: $135,666,395
ESTIMATED SALARY EARNINGS THRU 2026 SEASON: $280,666,395
More Contracts & Salaries:
Get on our list for weekly sports business, industry trends, interviews, and more.
