Underhill noted there are still some contractual matters to resolve between the two sides. Carr is under contract through the 2026 season and is due to carry a cap hit of $51.4 million in 2025 and $61.4 million in '26. The Saints are in the worst financial position in the league, with an effective cap space of -$52.7 million, per Over the Cap.

Derek Carr received words of praise from New Orleans Saints general manager Mickey Loomis and head coach Kellen Moore on Wednesday.

New Orleans Saints general manager Mickey Loomis says he sees 11-year veteran quarterback Derek Carr as someone the Saints can win with and a player the club remains “excited about.”