Sportsnaut
Veteran quarterback Derek Carr announced his retirement from the National Football League on Saturday, creating a quarterback competition for the New Orleans Saints. The decision also cost Carr tens of millions of dollars in potential earnings.
As highlighted by Mike Florio of Pro Football Talk, Carr and the Saints agreed to a contract settlement. The veteran quarterback will get to keep his $10 million roster bonus from March, but he is giving up $30 million in guaranteed pay for the 2025 NFL season.
Related: Insider names two veteran QBs who could replace Derek Carr in New Orleans
New Orleans restructured Carr’s contract in March, opening up $30.9 million in cap space. However, it was later determined that the four-time Pro Bowl selection needed shoulder surgery, which would’ve ruled him out for the entire upcoming season. The 34-year-old could’ve undergone the procedure, earning $30 million this fall.
Instead, Carr is walking away from football with the Saints off the hook for the upcoming money owed, while the club won’t go after any of the $28.5 million signing bonus he received in 2023.
Related: Winners, Losers from retirement of Derek Carr
It was determined that Carr is dealing with a labral tear in his right shoulder along with “significant degenerative changes” to his rotator cuff. While surgery could’ve corrected some of the issues, doctors determined it wasn’t a certainty that Carr would regain the “level of strength, function and performance” that he needed to remain a quality starting quarterback.
Taken with the 36th overall pick in the 2014 NFL Draft, Carr threw for over 40,000 passing yards in his career with the 15th-highest career quarterback rating (92.8) at the time of his retirement. With the $10 million roster bonus earned this offseason, Carr officially cleared $200 million in career earnings.
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