The terms of Derek Carr's deal to join the New Orleans Saints have reportedly been revealed.
Carr agreed to a four-year, $150 million deal, which includes $100 million in guarantees, sources with knowledge of the situation confirmed to NFL Network's Ian Rapoport and Mike Garafolo on Monday (March 6).
"He gets $70M effectively fully guaranteed ($60M at signing, another $10M in Year 3 vesting after Year 1). Carr structures his deal to accommodate Saints’ cap issues," Rapoport tweeted.
Rapoport had previously reported that the length of the deal was four years, "with a big QB number coming" that will "work with their cap situation."
"The #Saints remained the favorite for Derek Carr the entire process. It wasn't a trade, instead it'll be a free agent signing. New Orleans will lock in their starter," Rapoport tweeted.
Carr acknowledged reports of his decision to join the Saints by tweeting "Who Dat," along with a video of New Orleans native Tyrann Mathieu leading the chant during his first home game as a member of the team last season.
Carr was released by the Las Vegas Raiders on February 14, just prior to of a deadline in which $40.4 million in his contract would have been guaranteed. On February 12, Rapoport reported that Carr had informed the Saints that he wouldn't approve a trade to the franchise or any other NFL team, leading to his eventual release which, in turn, saved New Orleans from giving up valuable assets in a trade to acquire the quarterback.
The Saints were reported to be among teams interest in Carr, but the $40.4 million he was guaranteed as part of his recent extension was reported to be an issue, despite the team having the framework of a deal in place, according to NFL Network insider Tom Pelissero.
"The #Saints and #Raiders had the framework of a trade in place for Derek Carr, but his contract — which would fully guarantee him $40.4 million as of 4 p.m. ET Tuesday — was an issue. Carr’s no-trade clause gave him power to veto any deal and effectively force his release," Pelissero tweeted.
Carr was benched by the Raiders with just two games remaining in the 2022 regular season, citing the end of his nine-year tenure with the franchise. The former Fresno state standout selected by the Raiders at No. 36 overall in the second-round of the 2014 NFL Draft and holds franchise records in passing yards (35,222), passing touchdowns (217) and completions (3,201), while ranking second behind Pro Football Hall of Famer Ken Stabler (69-26-1) in QB wins with a 63-79-0 overall record.
Carr signed a three-year, $121.5 million contract extension, which included a $32.9 million salary for 2023 and $7.5 million for 2024, both fully guaranteed pending an injury, last offseason.
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