How Derek Carr's Retirement Affects Saints Salary Cap Situation

In a stunning development, New Orleans Saints quarterback Derek Carr on Saturday announced his retirement from the NFL after 11 seasons. In addition to reshaping the outlook for New Orleans's QB depth chart, Carr's retirement also will have quite an effect on the Saints' salary cap situation.

Carr's retirement gives the Saints roughly $30 million in cash and salary cap relief, according to Mike Garafolo of NFL Network. In exchange, Carr will get to keep the $10 million roster bonus he received in March.

Carr signed a four-year, $150 million contract with the Saints in 2023. In an effort to free up cap space, the Saints in March restructured Carr's contract, lowering his '25 cap hit to $20.4 million at the time. Carr's '26 cap figure was set to balloon to $69.2 million.

Now, after just two seasons in New Orleans, Carr is opting to walk away from playing the game.

Throwing a football in March for the first time since December, Carr experienced pain in his right shoulder. Medical tests determined that he had sustained a labral tear and had significant degenerative changes to his rotator cuff, according to the team's statement on his retirement.

"Upon reflection of prayer, and in discussion with Heather, I've decided to retire from the National Football League," Carr said in the statement. "For more than 11 years, we have been incredibly blessed, and we are forever grateful and humbled by this experience. It's difficult to find the right words to express our thanks to all the teammates, coaches, management, ownership, team officials and especially the fans who made this journey so special. Your unwavering support has meant the world to us."

In 11 seasons spent with the Las Vegas Raiders and Saints, Carr completed 65.1 percent of his passes for 41,257 yards, 257 touchdowns and 112 interceptions while earning four Pro Bowl selections.

'25 second round pick Tyler Shough, '24 fifth rounder Spencer Rattler and '23 fourth rounder Jake Haener are the remaining QBs on the Saints' depth chart.