Saints begin annual cap-clearing with QB Derek Carr restructure

(Photo credit: Stephen Lew-USA TODAY Sports)
New Orleans Saints quarterback Derek Carr agreed to restructure his contract to convert more than $28 million of his scheduled $30 million salary to a bonus, creating sorely needed salary cap relief.

The details of the accounting were confirmed by Spotrac, which projected the Saints to be over the $246 million adjusted salary cap by more than $74 million before the conversion.