Derek Carr signed a 4 Years, $150,000,000 contract with the New Orleans Saints on March 6, 2023. The contract runs through the 2026 season and has an average annual value of $37,500,000. It also came with a $28,500,000 signing bonus and $60,000,000 guaranteed. Carr was represented by Timothy Younger (Younger & Associates) in negotiations.
| Year | Base Salary | Cap Hit | Cap % |
|---|---|---|---|
| 2023 | $1,500,000 | $7,200,000 |
3.20%
|
| 2024 | $1,210,000 | $12,668,000 |
4.96%
|
| 2025 | $1,255,000 | $20,462,000 |
7.33%
|
| 2026 | $40,000,000 | $69,207,000 |
22.53%
|