NFL Network's Tom Pelissero reports that the Raiders and Saints have "the framework of a Derek Carr trade in place," which was apparently a condition in Vegas allowing the QB to visit the team. Carr possesses a no-trade clause, which likely means the deal depends on his preference after a "lengthy" visit. New Orleans would be a solid landing spot for the veteran QB, with a clear need at QB. We'd bet that such a trade would mean the end of Jameis Winston's time with the Saints. If you're drafting best-ball teams right now, then you can cheaply stack Carr with WR Chris Olave or RB Alvin Kamara -- who can be had as late as Round 5 or 6 in early fantasy football drafts.

Saints QB Derek Carr went 23-of-33 passing for 305 yards, 1 TD, and 1 INT in Sunday's narrow victory over the Titans. He took 4 sacks but otherwise fared well against a Tennessee pass defense that looks similarly soft to last year's Carr spread targets among his top three wideouts: Chris Olave (10), Michael Thomas (8), and Rashid Shaheed (6). TE Juwan Johnson (5) was the only other Saint to see more than 2 looks. Carr could be a streaming-level option in Week 2 against a Carolina defense that ranked just behind the Titans as a QB-scoring matchup in 2022. A Week 3 trip to Green Bay looks potentially tougher.

Saints QB Derek Carr obviously endured a rough final season with the Raiders. He got benched for the final two games and then released after the season. Before that, though, the veteran's performance declined significantly in multiple non-obvious categories. His 60.8% completion rate was his lowest since his rookie year (2014). Carr's 7.0 yards per pass attempt was his lowest mark since 2017, despite a career high in average depth of target. He posted his worst passer rating, Pro Football Focus passing grade and adjusted completion rate since 2014. And Carr's 2.8% INT rate was the worst of his career. The Saints obviously believe he can rebound, and Carr still finished 16th among QBs in total fantasy points; 20th in points per game. He's at least probably not a downgrade for New Orleans, but Carr sits just 26th in our QB rankings and isn't boosting the fantasy outlook for Chris Olave or any other Saints receiver.

QB Derek Carr and the Saints are working out a contract that could be done as soon as Monday afternoon, according to multiple reports. It's not a surprising turn for Carr, who had "lengthy" visit to New Orleans a month ago. His arrival will be good news for Saints second-year WR Chris Olave, who finished his rookie season 10th in yards per route run among all WRs with 30+ targets. WR Rashid Shaheed was among the nine players ahead of him (on far fewer targets), so that pair presents some big-play upside for Carr's stat line. That said, we can't upgrade the QB for leaving Davante Adams and Darren Waller. So the best hopes for Carr's ADP and fantasy football outlook are: 1) The Saints add more talent on offense; and 2) fantasy drafters don't boost him much from his current QB20 position. We'll see what else a cap-strapped New Orleans roster can add. And we'll see who teams such as the Jets and Panthers turn to at QB (after also courting Carr). WR Michael Thomas remains under contract with New Orleans as well. But he looks like a cut candidate that could help with the cap issues. Don't assume too strongly for now that he opens the year with the Saints.

Update: NFL Network's Ian Rapoport reports that Carr agreed to a four-year, $150 million deal, with $100 million in "total guarantees."

The Raiders officially released QB Derek Carr. Keeping him on the roster beyond 4 pm ET on Tuesday would have guaranteed Carr $40 million in 2023. Vegas was reportedly close to agreeing to a trade that would have sent Carr to New Orleans, but the QB opted to exercise his no-trade clause. He's now free to sign wherever he wants, with the Saints, Jets, Panthers and Titans considered his most likely suitors. Carr's efficiency and production sunk under HC Josh McDaniels last year -- and he ranked just 23rd among 31 qualifiers in Pro Football Focus' passing grades. He turns 32 in March. We'll keep you updated on the Carr Sweepstakes. Vegas, meanwhile, is left with "Chase Garbers" as the only QB on the active roster. They'll obviously be active in the QB market over the next few months.

Raiders QB Derek Carr will exercise the no-trade clause in his contract and is expected to be released, according to NFL Network's Ian Rapoport. The Raiders and Saints were seemingly close to agreeing to a trade that would send Carr to New Orleans, but he'll now have the chance to pick his new team. The Saints are still a strong candidate to sign Carr, but the Panthers, Jets and Titans are also possible landing spots. Stay tuned.