Derek Carr received a $150M contract. Should it be considered a bargain for the Saints?

It is not everyday that sums of $150 million can be described with words like “bargain,” but the New Orleans Saints might’ve felt that way Tuesday.

A day after free agent quarterback Derek Carr agreed to a four-year, $150 million contract with the Saints that will include $100 million in guarantees, the veteran quarterback actually dropped a rung on the NFL’s cash leaderboard when the New York Giants reportedly agreed to pay quarterback Daniel Jones $160 million on a four year extension.

One more quarterback domino should also fall soon, as the Baltimore Ravens placed a franchise tag on former NFL MVP Lamar Jackson Tuesday afternoon — what should be a precursor to Jackson signing a contract that either resets the quarterback market or comes close to it.

Carr, who is set to make $37.5 million per year, is now the NFL’s 10th highest-paid quarterback by average annual value. That number is even a bit high, as Carr will make something closer to $30 million per year in the first three years of his deal before the number balloons.

And Carr’s ranking among NFL signal callers is sure to fall even further before he ever plays a game for the Saints. Young stars like Cincinnati’s Joe Burrow, the Los Angeles Chargers’ Justin Herbert and Philadelphia’s Jalen Hurts are all eligible to sign mega extensions this year.

By the time the smoke is clear and the 2023 season starts, it wouldn’t be surprising to see Carr enter the campaign as the NFL’s 14th highest-paid quarterback.

While the Saints were pursuing Carr as a free agent, they believed money would not be a sticking point and that ended up being true. Though the price tag wound up looking exorbitant, the Saints secured their starting quarterback at a relatively affordable price point compared to the NFL standard.