Leaving Las Vegas: Derek Carr is headed to the New Orleans Saints. The first domino to fall in the NFL free agency quarterback race has happened. ESPN’s Dianna Russini reported it first earlier today.
The Deal
New Orleans Saints have signed Derek Carr, a former Pro Bowl quarterback, to a very lucrative contract. It includes $100 million in total guarantees.
Additionally, the fact that Carr structured his deal to accommodate the Saints’ cap situation shows that he is willing to work with the team to help them build a competitive roster.
Finally, the $60 million at signing is a substantial amount of money that Carr would receive immediately upon signing the contract.
The Saints, along with the New York Jets and Carolina Panthers, were interested in pursuing Derek Carr after the Raiders allowed him to talk to other teams to facilitate a trade.
What Happens to Jameis Winston?
The Saints could save $4.4 million against the salary cap by releasing Winston. But they would also have to take on $11.2 million in dead money. That’s the remaining portion of his signing bonus that has not yet been accounted for.
Alternatively, if the Saints wait until after June 1 to release Winston, they could save $12.8 million against the salary cap. But they would not receive any savings until then.
This strategy would allow the team to spread out the dead money over two seasons. That’s something that could make it easier for them to manage their cap situation in the short term.
However, it would also mean that the team would have to carry Winston’s contract until then, which could limit their ability to sign other free agents or make trades in the meantime.
Jameis Winston suffered multiple injuries at the beginning of this season, which caused him to miss some games and lose his starting job which he never regained.
What now for the Jets, Carolina and Raiders?
The Jets better damn well hope they land Rodgers are at the very least Jimmy G. otherwise, their fanbase is going to want heads to roll. Carolina and the Raiders are also reportedly in pursuit of the two aforementioned quarterbacks.
Stay tuned to Shemon and Sheppard 2-6pm today as we discuss this and a whole lot more!