In a pretty stunning turn of events Saints QB Derek Carr has decided to retire from the NFL and in the process give up $30 million which was already guaranteed to him for the year. Carr was suffering from a shoulder injury and would have had to undergo whatever surgeries and rehab needed to comply with his contract but now he should be free to simply follow his own timeline for whatever medical procedures he may or may not need.

My assumption is that the sides will hold off on making the retirement official until June 2nd, splitting the dead money in the contract. Carr’s cap charge this year will likely be $19.207 million with the team receiving a $5.749 million credit in 2026 for money that was not paid by the team to Carr. If no money had changed hands between the Saints and Carr then it is possible the NFL will give them the credit this year. His dead money next season should be $36.674 million.

Carr will not be subject to forfeiture from his prior bonus payments as part of the agreement between the two sides. Essentially this brings the Carr contract back to what it should have been had the Saints made the decision last year to move on from Carr as a post June 1 designation in 2025 rather than restructuring the contract as they did this year. Carr had signed a $150 million contract with the Saints after being released by the Raiders in 2024. Ultimately Carr earned $70 million of the contract for two years of play with the team.