Derek Carr retired from the NFL Saturday morning in a shocking move. He was expected to miss a majority of the 2025 season with a shoulder injury, but there was little speculation of him retiring. This unexpected revelation influences not just next season, but years to come because of the financial implications.
To every outside analyst, the Saints have been struggling with the salary cap for years. However, the Saints have prepared for that and have a clear plan. In recent years, they have been saving money to help them get under the cap in the upcoming years. For example, the Saints had $27 million in open salary cap space, per Over The Cap, before today that they weren’t spending.
How the Saints should spend the savings from Derek Carr's retirement
Carr’s retirement will save the Saints $30 million that was previously guaranteed in his contract. They still owe him $10 million from his roster bonus, but he was getting that money regardless of the circumstance. This extra money gives the Saints more flexibility in the future.
This extra $30 million will help them get under the cap easier and allow them to spend more in free agency in future years. The Saints don’t have to wait years to spend all of the money. They could jump into the free agency pool this year.
It would be a wise investment to spend money on a veteran player, particularly a wide receiver, this offseason. There are still valuable free agents such as Gabe Davis, Keenan Allen and Amari Cooper who are still on the market. Signing one of these players would give whoever the starting quarterback next year a reliable option.
The Saints don't have to be in a rush if they don't want to. The money will roll over if New Orleans chooses not to use it. Waiting to use the savings until 2026 could allow the Saints to be more aggressive in pursuing a big fish in next year's free agency class.
Carr retiring significantly helps the Saints from a financial perspective. The front office will have a decision to make. On paper, signing a veteran player, especially on offense, sounds wise, as it will help Shough or Rattler this year. However, it’s a possibility that they wait until future years to spend it. Regardless, they are in a much better financial spot than they were yesterday.