The New Orleans Saints and quarterback Derek Carr have come to an agreement on a four-year contact that can pay him up to $150 million, Ian Rapoport of NFL Network reported on Monday.
The contract features $100 million in guaranteed money, Rapoport reports. He gets $70 million in effectively guaranteed money, including $60 million upon signing the contract.
According to the Rapoport’s report, Carr will be the ninth-highest paid quarterback in the NFL at $37.5 million person season. Rams QB Matthew Stafford and Cowboys QB Dak Prescott are tied for eighth at $40 million a year.
The new Saints quarterback ranks just ahead of Vikings QB Kirk Cousins, who makes $35 million a year.
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 and the Saints worked together to structure the deal where it frees up cap space to allow the team to add more talent to the roster for the 2023 campaign.
Carr was let go by the Las Vegas Raiders in February to avoid paying him over $40 million in guaranteed money. He became a free agent and agreed to join the Saints, who were considered one of the favorites to sign Carr.
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