It’s no secret that the New York Giants’ entire 2025 offseason could hinge upon one decision — who will be quarterbacking this team in Week 1?
ESPN NYG beat reporter Jordan Raanan discussed the massive QB decision on January 23, and he connected the Giants to a new veteran option that profiles as a potential trade candidate.
“The trade avenue could also be an option,” Raanan wrote within his article. “The future of Derek Carr in New Orleans is one that could come into question. Nothing should be ruled out.”
Although Carr’s possible release from the Saints has been talked about around the NFL and NYG communities, there’s been nothing substantial on that front so far. And in order to cut the veteran signal-caller, Saints general manager Mickey Loomis would have to take on a $50-plus million dead cap charge in 2025 or designate Carr as a post-June 1 release.
With that in mind, NOLA.com staff writer Matthew Paras explained why a post-June 1 cut may not be a wise decision for New Orleans on January 23.
“The Saints could look to massage that [cap] hit by spreading it across two seasons instead of one with a post June 1 release, but that gets complicated when factoring in the team’s other salary cap constraints,” Paras detailed. “Currently projected to be more than $60 million over next season’s cap, the Saints have to become cap-compliant by the start of the new league year in March. If the Saints want to designate Carr as a post-June-1 cut, they’d be required to carry his full cap figure on the books until then.”
Alas, trading Carr ahead of June 1 and saving $11.326 million worth of cap space in 2025 could be New Orleans’ most logical solution — assuming the Saints decide to rebuild.
Saints’ HC Decision Could Determine If Derek Carr Becomes Available for Giants
Carr would profile as a solid bridge candidate for head coach Brian Daboll and the Giants amid a weak draft year and free agency class at the position. Granted, Carr’s no superstar, but he’s a competent NFL quarterback that has thrown for over 41,000 yards and 250-plus touchdowns on his career.
Enough to stabilize Big Blue as this regime looks to prove they can build sustained success, but not enough to get them over the playoff hump in all likelihood.
Still, one or two decent years of Carr could serve as a lifeboat for Daboll and general manager Joe Schoen — and that alone might entice them into trading for him. Unfortunately, it takes two to tango, and the Saints have not displayed an urgency to trade him so far.
Having said that, the new head coaching hire could determine Carr’s fate in New Orleans.
Depending on who the Saints eventually bring in, a new HC could pitch Loomis on a clean break from Carr. This could especially be the case if New Orleans hires an offensive mind.
Ironically, current Giants OC Mike Kafka appears to be one of the finalists in the Saints’ head coaching search.
Saints QB Derek Carr Is Willing to Restructure His Contract, But Will Not Agree to a Pay Cut
After the season, Carr told ESPN Saints reporter Katherine Terrell point blank that he “wouldn’t take a pay cut.” However, he did note that he would be willing to restructure his contract, which typically pushes the cap hit down the road a few years.
According to Over the Cap, the Saints could save nearly $31 million in 2025 cap space by restructuring Carr’s deal, which sounds great in theory. But a move like this would further handicap New Orleans in the future.
Per Paras and NOLA.com, “the Saints already restructured Carr’s contract last offseason, and doing so again would only further increase his 2026 cap hit — already north of $61 million.”
“Still, if the Saints want to keep Carr, restructuring his contract could go a long way in helping them become cap-compliant this offseason,” Paras went on. “By converting all but the $1.2 league minimum of Carr’s $30 million contract and his $10 million roster bonus, according to Over the Cap, the Saints would save almost $31 million from its books. But doing so would make Carr’s 2026 cap figure $69.2 million, $19.2 million in 2027 and $13.5 million in 2028. Carr’s contract, too, voids after 2026.”
If the Giants were to trade for Carr, they’d likely be taking on a large financial commitment in 2026 and lesser cap commitments in 2025 and 2027, depending on what the Saints are willing to pay. Similarly, Big Blue’s exact trade ask is unclear, although any draft capital sent to New Orleans would no doubt depend on the financial burden that the Giants take on.
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Giants Connected to New ‘Trade Avenue’ for $150 Million QB