Ranking worst quarterback contracts in NFL today

4. Derek Carr, Saints
Fully guaranteed: $60M
2024 cap hit: $12.6M
2025 cap hit: $51.4M
First year can be cut for cap savings: After 2024

That fully guaranteed total is very reasonable. And the Saints could technically save money if Carr is off the roster before the 2025 season, yet the savings would minuscule -- only $1.3 million with a corresponding $50.1 million dead cap hit. In short, absent juggling the financial books, which isn't unfamiliar to the Saints front office, Carr probably stays on the roster at least another year. Before 2026, if the contract stays intact as is, Carr's release would save New Orleans $28.6 million and he'd net the club $32.7 million.

And that $51.4 million cap hit isn't chump change. There are already three void years on Carr's deal, so there's minimal wiggle room for the club known for its propensity to kick the can down the road. Technically, New Orleans could restructure, yet it would just add more dead cap long after Carr is either on another roster or retired. Not exactly sound accounting practices.

Now, there's an argument to be made that not too long ago Carr was playing football that justified his current deal. Yet, given what we know now about the Panthers and Cowboys' defenses, those Week 1 and Week 2 shred sessions from Carr aren't as impressive as originally thought. He'll be 34 next March. At this stage, we know what type of quarterback Carr is. His deal isn't dreadful because of the short-term-ish exit possibility. But it's not anywhere close to a bargain.