Updated contract details for New Orleans Saints quarterback Derek Carr after recent restructure
The New Orleans Saints decided to restructure Derek Carr's contract, and the details became public on Friday morning. It's a move that was expected and necessary for the organization. The Saints converted a large portion of his 2024 base salary into a signing bonus in order to create immediate savings. Check out his restructured deal […]
The New Orleans Saints decided to restructure Derek Carr's contract, and the details became public on Friday morning. It's a move that was expected and necessary for the organization.
The Saints converted a large portion of his 2024 base salary into a signing bonus in order to create immediate savings. Check out his restructured deal for 2024 below.
Here's how this one works:
2024 original base: $30M
2024 signing bonus prorate: $5.7M
Original cap hit: $35.7M
Conversion: $28,790,000
New 2024 base: $1.21M
New restructure prorate (+ 1 void year): $5.758M
Signing bonus prorate: $5.7 New cap hit: $12.668M
Savings: $23.032M
— via Ross Jackson on Twitter
Overall, it is a move that New Orleans planned for with his original deal. They knew their projections against the cap for this season.
For a year-by-year breakdown of his updated deal from OverTheCap, click here.
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