Saints could get to $14.61 million under the cap without restructuring Derek Carr, after Saints salary cap potentially increases by $5M

Covington Saint said

relevant note for all. Creating additional cap space this year and not using it can still transfer to the following year. Pushing cap back in future year does not necessarily mean you are using that additional cap space this year. Allows flexibility.

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Which is why a June 1 cut for Carr isn't a bad idea if we weren't going to be players in free agency anyway. If we get his $30m in June and only use $10-$15m of it, the rest will carry over to the following year and help eat the rest of his dead money cap hit.