Derek Carr agreed to a deal with the New Orleans Saints on Monday, and it is one that will pay the veteran quarterback handsomely.
Carr has signed a four-year, $150 million contract with the Saints, according to Ian Rapoport and Mike Garafolo of NFL Media. The deal includes $100 million in total guarantees with $70 million fully guaranteed at signing.
The #Saints & Derek Carr agreed on a 4-yr deal for $150M with $100M in total guarantees, per me & @MikeGarafolo. He gets $70M effectively fully guaranteed ($60M at signing, another $10M in Year 3 vesting after Year 1). Carr structures his deal to accommodate Saints’ cap issues. pic.twitter.com/vs6qaBh7rg
— Ian Rapoport (@RapSheet) March 6, 2023
Carr also got a no-trade clause from the Saints.
For comparison, Carr signed a three-year, $121.5 million extension with the Las Vegas Raiders prior to last season. The deal included a potential $65 million in guaranteed money, but the majority of that was only guaranteed for injury. He got just under $25 million guaranteed at signing and never saw the other $40 million, as it would have become guaranteed if he remained on the Raiders’ roster through Feb. 15.
If Carr is guaranteed $70 million at signing with the Saints, the other $30 million is likely only guaranteed for injury. Still, that is a massive contract for the 31-year-old coming off one of his worst seasons.
The Raiders tried to trade Carr, but he refused to waive his no-trade clause and forced them to cut him. That saved him the step of having to restructure his contract, as he likely knew he would be able to secure a significantly better deal on the open market.
Carr showed with the video he posted on social media how excited he is to be a Saint. He has to be thrilled with the money, too.
