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

Elvis said
I don't think so at all. That minor amount of cap savings is irrelevant. Saving $9.5 million doesn't change his dead cap number of $59,670,000 at all and that is a MASSIVE number to carry for a player not on the team. The only player to have that kind of dead money was Russell Wilson after the Broncos made one of the worst decisions in NFL history. Deshawn Watson will soon follow. That is where we are with his numbers.
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Carr’s cap is what it is though. It’s inevitable that it’s a large number. But Jason not mentioning the Feb/Mar 2026 cap savings, and the projected 2026 cap space that the Saints will have after 2025 signings, makes it seem like the Saints are perpetually wrecked by Carr’s high 2026 cap hit/dead money. But that isn’t the case since they’ll have a way out with some cap relief from the cut.