Report: Derek Carr to Remain Saints QB1 After Restructuring Contract for Salary Cap

Following rumors that there was a chance he would be cut this offseason, New Orleans Saints quarterback Derek Carr won't be going anywhere anytime soon.

According to NFL Network's Ian Rapoport and Mike Garafolo, Carr and the Saints agreed to a restructured contract on Saturday, with the signal-caller still in line to receive his full $40 million:

Carr was previously set to account for a $51.4 million cap hit, per Spotrac. Nick Underhill of NewOrleans.Football reported the conversion will free up about $30 million in cap space for 2025.

He told ESPN's Katherine Terrell in January that he "wouldn't take a pay cut" but was "absolutely" willing to restructure his deal to remain in New Orleans. The two sides ultimately managed to get a deal done and keep him in the fold.

The 2024 season was a forgettable one for Carr and the Saints. He was limited to 10 starts due to an oblique injury, a fractured hand and a concussion. He threw for 2,145 yards, 15 touchdowns and five interceptions while adding a rushing score.

New Orleans finished last in the NFC South with a 5-12 record, going 5-5 in games Carr started. Head coach Dennis Allen was fired before the end of the year and replaced by Kellen Moore, who spent the 2024 season as offensive coordinator of the Super Bowl champion Philadelphia Eagles.

During Carr's absence, 2024 fifth-round pick Spencer Rattler gained some valuable experience despite failing to earn a win in his rookie year. He will continue to develop behind Carr and should be considered a dependable backup.

Following Saturday's agreement, it appears Carr will remain the team's starting quarterback in 2025.