Saints GM remains tight-lipped over $51,000,000 Derek Carr problem

The New Orleans Saints face a monumental decision regarding Derek Carr's 2025 salary cap hit. During Monday's press conference, General Manager Mickey Loomis left the door open to all possibilities.

Loomis, who oversaw Carr's four-year $150 million contract signature in 2023, faces the challenge of managing the quarterback's significant $51.45 million cap hit. Currently, the Saints are at a staggering minus-$78.5 million in cap space, the most challenging financial situation in the NFL by a considerable distance.

Speaking at a press conference on Monday, Loomis addressed the mounting speculation about Derek Carr's future with the team. The timing proves critical as $30 million of Carr's 2025 salary becomes guaranteed in March.

"All that has yet to be determined," Loomis said regarding Carr's cap situation. He added, "I have a high level of confidence in Derek. He's done some really good things here."

The New Orleans Saints's financial predicament stems from aggressive contract structuring. Through creative accounting, they have paid just $19.8 million against the cap for Derek Carr over two seasons. Now, the bill is due.

"I wouldn't take a pay cut" - Derek Carr stands firm on contract

New Orleans Saints QB Derek Carr during an NFL game. (Credits: IMAGN)

Derek Carr made his position crystal clear in a Tuesday (Jan. 7) interview with ESPN's Katherine Terrell. The quarterback defended his worth while acknowledging the team's dire financial state.

"Yeah, I wouldn't do that," Carr stated firmly. "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."

His on-field results tell a complex story. Since joining New Orleans, Derek Carr has gone 14-13 as a starter while averaging 223.1 passing yards per game, ranking third-lowest among quarterbacks with 800+ attempts. Injuries limited him to 5-5 in 2024 before a Week 14 concussion and broken hand ended his season.

The Saints find themselves in a bind. Carr's no-trade clause limits their options. Even restructuring provides little relief, merely pushing massive cap hits to 2026 and 2027. As Mickey Loomis focuses on hiring a new head coach, this $51 million question looms large over the franchise's future.