Saints reportedly adjust Derek Carr's contract to save $23M in cap space

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The New Orleans Saints are working with Derek Carr to restructure the quarterback's contract, a move that should save the team around $23 million in salary cap space, according to an ESPN report.

According to the report, the team will convert a large chunk of the $30 million Carr is owed in base salary for 2024 into a signing bonus. This will likely just be the start of moves by the team, which, according to Spotrac, is projected to be more than $50 million over the salary cap.

ESPN reported that the Saints are also looking to rework the contracts of defensive end Cameron Jordan, center Erik McCoy and guard Cesar Ruiz.

Carr, who is signed through the 2026 season, passed for 3,878 yards last season, with 25 touchdown passes and eight interceptions. The Saints finished 9-8 and missed the postseason.