Saints still have strong reasons to pull the trigger on a Derek Carr trade before it's too late to reshape their future

The New Orleans Saints have delayed their full rebuild for too long. Part of that sequence of mistakes was signing quarterback Derek Carr two years ago to a big four year deal. Half of that contract is gone, and it's already clear that the partnership won't take the Saints where they want to go.At the […]

Wendell Ferreira — NFL News Writer
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The New Orleans Saints have delayed their full rebuild for too long. Part of that sequence of mistakes was signing quarterback Derek Carr two years ago to a big four year deal. Half of that contract is gone, and it's already clear that the partnership won't take the Saints where they want to go.

At the same time, Saints executive vice president and general manager Mickey Loomis felt forced to restructure Carr's contract once again this offseason based on the necessity to create cap space—and the quarterback's deal was planned with that purpose in mind.

When the Saints pulled the trigger on the restructure to clear up $30 million in cap space this year, the general perception was that he would be in New Orleans for at least one more year, maybe two.

However, the Saints should trade Derek Carr before it's too late. It's probably what he wants, and even if it's late for the team, the more they delay this decision, the worse it will be for the future of the franchise.

Overall strategy

At this point, Saints fans know exactly how the team manages its salary cap. They convert as much as possible of the base salary into signing bonuses, moving the cap hit for future years. The plan is that a dollar now is more valuable than a dollar next year, when the salary cap will be higher.

It makes sense to some degree when the team is competing, but the Saints were too extreme with this strategy and lost flexibility over time, being forced to keep players they maybe didn't want because it would be more expensive to cut them.

But that creates a snowball effect, as the players keep on the cap sheet for years and years. As they get older and less productive, the team suffers.

Financial implications

With Derek Carr, the Saints have an opportunity to show real change. Even if they have already paid most of the quarterback's compensation for this year, there are still several reasons to trade him—but the trade has to be executed after June 1.

If that happens, the Saints would still have $19.207 million in dead money this year, clearing up only $1.255 million in cap space in 2025.

But the move is not about 2025, it's not about 2026. It's about the future, when there is a real shot at competing for championships—and Loomis has to have some type of self-awareness.

In 2026, the Saints would still have to handle $59.67 million in dead money, the accelerated proration of all the signing bonuses and restructures the team has done. But there will be $9.537 million in cap savings in 2026, $40.463 million in 2027, and $21.265 million in 2028—which is already a void year.

That would be a significant next step to stop the salary cap bleeding.

Draft capital

Derek Carr's health is a big if, but maybe he would be more willing to expose his shoulder and solve the injury issue as soon as possible if he's happier about his next destination.

And if Carr is healthy enough to play in 2025, there should be teams willing to acquire him, especially because the new team would only pay his $1.255 million base salary this season. Imagine for a team like the Cleveland Browns, who are already paying a lot of money for Deshaun Watson not to play, how important it would be to have a viable and experienced starter without spending more than the veteran minimum.

In addition to freeing up future cap space, the Saints would still receive a 2026 pick to help the rebuild—and maybe even use the extra ammunition to draft a quarterback if needed.

Quarterback situation

Anything that the Saints do with Derek Carr shouldn't change their draft plans. Right now, New Orleans has Spencer Rattler, Jake Haener, and Ben DiNucci on the 90-man roster. Maybe they take a quarterback, and it would probably happen on Day 2 of this year's draft, but whether it happens or not, the Saints should go with a younger option.

If the young quarterback who plays, Rattler or a rookie, is good, excellent. If not, the Saints will be in position to throw another dart next year. With more financial flexibility, with more draft capital, and without a veteran who never fit exactly what the Saints truly wanted to do.

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