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

Bayouboy said
We all knew the Saints were gonna do this, but fans had a glimmer of hope Loomis would do the right thing. Now we are stuck with Carr for the foreseeable future and will be in 9-8 or 8-9 purgatory forever. Yay!!!

They are only stuck with him for 2025. They can cut him next year and even with the dead money save over $9M.