Derek Carr’s Retirement and Contract Changes
Derek Carr announced his retirement on Saturday, making a significant financial decision in the process. The injured quarterback has opted to forfeit his fully guaranteed $30 million salary for 2025 to preserve a $10 million roster bonus that he received in March.
Interestingly, the Saints have also chosen not to pursue the $28.5 million signing bonus that Carr secured when he signed his four-year, $150 million contract as a free agent in 2023.
If Carr had elected to undergo surgery to address a shoulder laceration and a rotator cuff injury, he might have taken home that $30 million. However, that route would likely have left him sidelined for the entire season, pushing his decision about his career until next offseason.
The conclusion of Carr’s tenure involved some compromises from both sides. This arrangement allows the Saints to navigate their notorious salary cap constraints while still honoring Carr’s contributions over two years and four Pro Bowl appearances.
This cap relief could be pivotal in strengthening their roster, perhaps even in the search for a veteran backup quarterback, especially since Carr is no longer part of the team dynamics.
As of now, the Saints are managing a dead salary of $35.6 million, with $13.2 million allocated for 2025 and the same amount for 2026.
In terms of their current quarterback situation, Jake Haener, Spencer Rattler, and rookie Tyler Schaff collectively have a dismal track record with just seven NFL starts between them and a record of 0-7.
The restructured terms of Carr’s contract back in March facilitated the decision to sacrifice that $30 million while still retaining the $10 million bonus.
The specifics of Carr’s injury from the game against the Giants on December 8th became more apparent only in March after additional evaluations by the Saints’ medical team.
At the end of the 2024 season, Carr ranks as the 16th highest-paid player in NFL history. With his new roster bonus factored in, his career earnings have exceeded $200 million over 11 years, primarily spent with the Raiders.
