$150,000,000 QB Derek Carr makes feelings known on taking pay cut for 2025 as Saints navigate salary cap hell

After a 9-8 season in 2023, Derek Carr and the New Orleans Saints were confident they'd have a stronger season in 2024 and end the franchise's three-year wait for a playoff appearance. They started the season brightly with two blowout wins over the Carolina Panthers and Dallas Cowboys. However, things went south soon after.

They lost seven games on the trot and fired head coach Dennis Allen. They handed over the reins to special teams coach Darren Rizzi, who led them to a 3-5 record in their last eight games. A 5-12 record was not what the Saints expected. They seemingly overestimated the roster's potential and need an overhaul in the offseason.

However, their cap situation makes it almost impossible for them to add star players who could help flip their fortunes. They could ask veterans to take pay cuts to help ease the financial load.

However, Carr, who missed seven games due to injury, isn't up for it. In an interview with ESPN, the quarterback made it clear in no uncertain terms that he won't sign a new deal that'd pay him less than his current deal.

He said:

"I wouldn't take a pay cut... Especially with what I put on tape. Would I restructure? Absolutely. I'll always help the team that way. But there's some things that you put out there that you earned."

The veteran claimed that the four-year, $150 million deal that he signed with the franchise in the 2023 offseason was under market value and he isn't willing to reduce his $37.5 million salary further.

He added:

"I felt confident when I signed it that this would give the team the best flexibility at the time... I wouldn't take anything less to do this. It's hard enough putting our bodies through it. And you're trying to get everything you can for your family for it."

Saints cap space: Derek Carr's refusal makes matters worse for the franchise

Derek Carr's unwillingness to take a pay cut is a massive hindrance in the Saints' quest to ease their salary cap woes. As things stand, their total cap allocation for the 2025 season is $354.8 million, the highest in the league.

They are $79 million over the cap limit and need several players to restructure their deals or take pay cuts to get their brutal cap situation under control. Carr, the highest-paid player on the roster, refusing to help the team could prompt others to follow suit.

The Saints could cut the veteran quarterback and hand Spencer Rattler the keys to the offense. Parting ways with Carr would only add $1.4 million in cap space this season, as his contract carries a dead cap hit of $50.1 million. However, they'd enter 2026 with a cap surplus and can begin to rebuild the roster.

New Orleans has been operating well above the cap limit for the past few years. However, the current crop of players hasn't yielded the results they hoped. It might be time for them to seriously consider blowing up the roster, accept that they'll have an underwhelming season even before it kicks off, and fully retool the roster with a new head coach and quarterback.