Saints Cap Moves: Derek Carr restructured, Erik McCoy restructured; J. Williams released; cap space is at -$8,543,537 (124 Viewers)

[Taker597]

Yeah, they will designate him a post June 1 cut and split the dead cap hit $30 million each for 2026 and 2027.

Cap space won't be available till June 1st is the only catch.

 

[rlemieux]

Damn Covid still messing with the Saints cap calculations!

 

[Elvis]

Yeah, they will designate him a post June 1 cut and split the dead cap hit $30 million each for 2026 and 2027.

They still have to carry that $69 million until June 2026 to do it.

 

[BlackNGoldblood]

Yeah, they will designate him a post June 1 cut and split the dead cap hit $30 million each for 2026 and 2027.

Just so we can have him as our QB this year, assuming he stays healthy.

 

[Taker597]

 

[jboss]

This is the right move to make. Take your medicine, put the "win now, cap be damned" era that we had with Payton/Brees and foolishly tried to cling to with Allen to bed, and move forward.

Hopefully this year will be one of Kellen Moore starting to establish a team and culture that he has envisioned. Probably won't be pretty, but something that can built upon in years to come.

This has been a looong time comin and it's finally here. I personally find it refreshing. Leave the past where it is, enjoy the memories, embrace what's to come for better or worse.

 

[SweetT]

Interesting that Carr was pushing to be cut/traded but Moore wanted to keep him.

He doesn’t like being here. Cant say that I blame him. He’s not very well received by our fanbase. Although winning would cure that. It’s on him now

 

[St. Geezy]

Just so we can have him as our QB this year, assuming he stays healthy.

More like “Just so we can actually try to make significant improvements to the team this year, including but not limited to re-signing some of our own guys.”

You don’t make this move, then you’re looking at the same team, minus Carr, minus our own free agents, plus the draft picks, and that’s about it other than maybe a handful of late near minimum salary signings in the summer.

But I’m sure the folks up in arms over this Carr thing would have all sat there with a smile on their faces while the team sat on its hands through all of free agency and not complain about us not signing anyone or doing anything to field a team.

 

[BlackNGoldblood]

Yes, we most certainly would have, and that would have been just to merely achieve cap compliance.

Without this move, you’re basically sitting out free agency and are kicking the can with every other restructurable contract on the roster just to field a team and have a rookie draft pool.

Maybe you can swap out a few bottom of the roster guys with minimum salary free agents, but that’s about it.

This move was effectively a must.

Well, that’s your opinion, but others, like Mike Triplett, view this as a clear sign the Saints are keeping their foot on the gas pedal, as opposed to rebuilding. So who’s correct? We shall see. I’m interested to read what Nick Underhill writes about all this.

 

[St. Geezy]

Well, that’s your opinion, but others, like Mike Triplett, view this as a clear sign the Saints are keeping their foot on the gas pedal, as opposed to rebuilding. So who’s correct? We shall see. I’m interested to read what Nick Underhill writes about all this.

No, it’s not my opinion. It’s sophomore level math.

I never said this was about rebuilding, in fact I am saying exactly what you say Trip says, so I’m not sure what you’re conveying there.

 

[ELLIASJWILLIAMS]

This was a game of chicken and the Saints blinked first.

Carr's leverage was the simple fact that cutting him forces the Saints to restructure the entire rest of the team to get cap complainant and likely gives the Saints zero cap space for FA moves and would force them to field one of the worst NFL rosters of all time.

The Saint's leverage was the very real fact that on the open market Carr is not likely getting $40m a year. Not nearly as many QB opening as there are FA QBs and Carr if cut could have found himself taking an even larger pay cut.

I was pretty sure that Carr was not taking a pay cut, he is the type of guy that is always going to bet on himself. In the end he get's his $40m and the Saints are forced to kick the can again.

Playing around with the OTC calculator with a base restructure means Carr's 2026 cap hit is $69m with a dead money hit of $28 and cap saving of $32m if cut. No way the Saints are paying Carr $69M next year and if they could not find away to work out a new contract now it's likely he is gone next year. The Saints decided it was better to keep him another year and take a smaller cap hit in 2026 when they will have a little more cap space to take on the dead money.

Pretty much. Paying him this year doesn’t make it harder to walk away next year. However, it also paints them in corner in that they better have their answer at QB on the roster in 2026.

Either Carr is going to be on a short leash so you can evaluate him or…you toy w/ trading up to draft Cam Ward so that theres no scramble for a QB next year

 

[RaginSaint93]

So what does Alvin’s tweet mean?

 

[BlackNGoldblood]

No, it’s not my opinion. It’s sophomore level math.

I never said this was about rebuilding, in fact I am saying exactly what you say Trip says, so I’m not sure what you’re saying there.

You’re saying it was their ONLY option, which sounds to me like you see it as achieving both goals - fielding a more competitive team this year and not doing a bunch of restructures of players they don’t value long term. Triplett apparently thinks this is only a win now decision, which you seem to disagree with.

 

[RaisingTheBar]

Pretty much. Paying him this year doesn’t make it harder to walk away next year. However, it also paints them in corner in that they better have their answer at QB on the roster in 2026.

Either Carr is going to be on a short leash so you can evaluate him or…you toy w/ trading up to draft Cam Ward so that theres no scramble for a QB next year

I have a feeling they’re going with option C and scrambling for a QB next year.

 

[SailorJerrysHorse]

This just makes no sense to me but what do I know.

Moving forward now I’ll be curious to see how he and Moore work together, and to see how the draft plays out especially with regards to the QB position and possible trade backs for future draft picks. A restructure and not an extension makes me think Carr is more than likely a 2026 post June 1 cut (though Im not clear on how you get cap compliant with that figure in the books till June - @Elvis / @Rouxble any thoughts?)

Regardless, this feels like an expensive bridge year (2025 drafted QB? Rattler?) and/or a planned move up in the 2026 draft for a QB next year.