The numbers are in for Derek Carr and the Saints, and they're hefty: 4 years, $150 million.
That's what New Orleans will be on the hook for with their new quarterback, according to a report from the NFL Network's Ian Rapaport. The team and QB met for a second time at the NFL Combine in Indianapolis, and the Saints beat out at least two teams interested in his services in the Panthers and Jets.
That overall contract will land at an average annual value of $37.5 million, slightly higher than his reported target of $35 million but also in line with his contemporaries at the position.
That figure lands at No. 9 total in the NFL, a group led by Aaron Rodgers with an average of $50 million per season.
Here's the top 15 in that regard after Carr's deal (per Spotrac; excluding rookie deals):
- 1. Aaron Rodgers, Packers: $50.3M
- 2. Russell Wilson, Broncos: $48.5M
- 3. Kyler Murray, Cardinals: $46.1M
- 4. Deshaun Watson, Browns: $46M
- 5. Patrick Mahomes, Chiefs: $45M
- 6. Josh Allen, Bills: $43M
- 7. Matthew Stafford, Rams: $40M
- 8. Dak Prescott, Cowboys: $40M
- 9. Derek Carr, Saints: $37.5M
- 10. Kirk Cousins, Vikings: $35M
- 11. Jared Goff, Lions: $33.5M
- 12. Matt Ryan, Colts: $30M
- 13. Ryan Tannehill, Titans: $29.5M
- 14. Jameis Winston, Saints: $14M
- 15. Mitch Trubisky, Steelers: $7.1M
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The deal also includes $100 million in guarantees for Carr, who sacrificed a guaranteed $40 million on his prior deal when he vetoed any potential trades. The deal guarantees $60 million at signing, with another $10 million vesting for Year 3 after the completion of Year 1, according to the report.
Here's how the cap hits break down by year, according to Spotrac:
- 2023: $7.2 million
- 2024: $35.7M
- 2025: $45.7M
- 2026: $55.7M
- 2027 (voidable): $5.7M
As of Monday they sit $18 million over the cap, but with multiple options for restructures to hack that number down prior to the new league year that begins on March 15.
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