The thing about the NFL is that everyone thinks they can fix a "middle-of-the-road" quarterback. You see a guy with a quick release and a couple of Pro Bowls, and you convince yourself he just needs a change of scenery. That’s exactly what happened with derek carr free agency back in 2023. It wasn't just a signing; it was a $150 million desperate heave downfield by a New Orleans Saints front office that refused to admit the Drew Brees era was actually over.
Honestly, it feels like a lifetime ago.
Carr didn't just stumble into free agency. He was pushed. After nine years with the Raiders, the team basically told him to stay home for the final two games of the 2022 season. It was messy. It was public. And because he had a no-trade clause, he held all the cards. He forced the Raiders to cut him, walked away from forty million in guarantees, and became the most coveted "B-tier" starter on the open market.
The 2023 Derek Carr Free Agency Frenzy
People forget how many teams were actually kicking the tires on him. The New York Jets were hovering around, though they were clearly waiting for Aaron Rodgers to emerge from his darkness retreat. The Carolina Panthers were in the mix before they decided to mortgage their entire future for Bryce Young. But the Saints? They were aggressive. Mickey Loomis, the Saints’ GM, has never met a credit card he didn't want to max out.
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New Orleans eventually landed him with a four-year, $150 million deal. On paper, it looked like a massive win for Carr. He got $60 million fully guaranteed at signing. But if you look at the actual structure, the Saints were doing what they always do: kicking the cap hit down the road. They gave him a tiny $1.5 million base salary in Year 1 to make the math work.
Why the Saints?
- The Dennis Allen Connection: Allen was the guy who drafted Carr in Oakland. He knew him. He trusted him.
- The "Weak" NFC South: At the time, the division was a mess. Tom Brady had just retired (for real this time), and the Saints thought a "stable" QB made them instant favorites.
- Roster Construction: The Saints had a veteran defense that didn't want to wait for a rookie to develop.
The problem with the whole derek carr free agency narrative was the expectation. Fans expected 2016 Carr—the guy who was an MVP candidate before breaking his leg. What they got was a veteran who struggled with consistency, dealt with a revolving door of offensive coordinators, and eventually faced the reality of his own physical limitations.
The Reality Check and the 2025 Retirement
Fast forward to where we are now in early 2026. Looking back, that free agency period was the beginning of the end. By the time 2025 rolled around, the wheels had completely come off. Carr’s body just couldn't take the hits anymore. He’d dealt with a broken hand, oblique issues, and finally, a shoulder injury that required a surgery he didn't want to undergo at 34 years old.
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When Carr announced his retirement in May 2025, it sent shockwaves through the Saints' cap sheet. But it also provided a weird sort of relief. Because he retired, he actually waived about $30 million of his 2025 salary. It was a rare moment of a player doing a team a "favor," though he still walked away with over $200 million in career earnings. He didn't leave empty-handed.
The Saints are now moving forward with younger, cheaper options like Spencer Rattler and Tyler Shough. It's a "back to basics" approach that probably should have happened three years ago.
What We Can Learn From the Carr Era
If you’re a team looking at the next veteran quarterback to hit the market, Derek Carr is a cautionary tale. He’s a good man and a solid leader, but he wasn't a "ceiling raiser." The Saints spent $150 million to go 14-13 in games he started. That’s the definition of "treading water."
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What most people get wrong about derek carr free agency is that it wasn't a failure of talent. It was a failure of timing. The Saints tried to extend a window that was already shut. They used a high-priced veteran to paper over cracks in a roster that needed a total rebuild.
Actionable Insights for NFL Fans and Analysts
- Watch the "Dead Money": When a player signs a massive deal, always check the "Potential Out." For Carr, the Saints were always stuck until at least 2025 or 2026.
- Scrutinize the "Change of Scenery" Myth: Statistics show that veteran QBs rarely jump a full tier in production just by changing jerseys. Carr stayed exactly who he was: a 3,500-yard, 20-TD guy.
- Follow the Guaranteed Cash: Don't get distracted by the "$150 million" headline. The $70 million "effectively guaranteed" was the real number that dictated the Saints' roster moves for three years.
The saga of Derek Carr in New Orleans is finally over. He’s moved on to the next chapter, and the Saints are finally facing the rebuild they’ve avoided for a decade. It was a wild ride, expensive as hell, and ultimately, a reminder that in the NFL, "average" is the most expensive thing you can buy.
If you are tracking the current NFL landscape, pay close attention to the 2026 salary cap adjustments for New Orleans. They are finally "in the black" for the first time in what feels like an eternity, largely thanks to the way Carr's contract finally cleared the books following his retirement. This gives them the flexibility to actually build around their young core instead of just surviving week to week.