Saints Cap Moves: Derek Carr restructured, Erik McCoy restructured; J. Williams released; cap space is at -$8,543,537

We are in a better place next year to eat $60 million in dead money than we are to eat $50 million in dead money this year (assuming Carr doesn't perform).

Everyone is gonna scream at Mickey, but there wasn't much of a choice here. This was the most realistic way to set up Carr's departure.

And even though it's not a popular position, Kellen Moore wanting a starting QB to work with is understandable.
Not really. The cap looks better at a glance, but we have 15 less players under contract in 2026 that we do in 2025 that'll need to be replaced next year and Carr's cap number just ballooned to $69 million to keep and $60m in dead money to cut. Many of those players that'll be gone are starters.