The New Orleans Saints face a monumental decision regarding Derek Carr's 2025 salary cap hit. During Monday's press conference, General Manager Mickey Loomis left the door open to all possibilities.Loomis, who oversaw Carr's four-year $150 million contract signature in 2023, faces the challenge of managing the quarterback's significant $51.45 million cap hit. Currently, the Saints are at a staggering minus-$78.5 million in cap space, the most challenging financial situation in the NFL by a considerable distance.Speaking at a press conference on Monday, Loomis addressed the mounting speculation about Derek Carr's future with the team. The timing proves critical as $30 million of Carr's 2025 salary becomes guaranteed in March."All that has yet to be determined," Loomis said regarding Carr's cap situation. He added, "I have a high level of confidence in Derek. He's done some really good things here."The New Orleans Saints's financial predicament stems from aggressive contract structuring. Through creative accounting, they have paid just $19.8 million against the cap for Derek Carr over two seasons. Now, the bill is due."I wouldn't take a pay cut" - Derek Carr stands firm on contractNew Orleans Saints QB Derek Carr during an NFL game. (Credits: IMAGN)Derek Carr made his position crystal clear in a Tuesday (Jan. 7) interview with ESPN's Katherine Terrell. The quarterback defended his worth while acknowledging the team's dire financial state."Yeah, I wouldn't do that," Carr stated firmly. "Especially with what I put on tape. Would I restructure? Absolutely. I'll always help the team that way. But there's some things that you put out there that you earned."His on-field results tell a complex story. Since joining New Orleans, Derek Carr has gone 14-13 as a starter while averaging 223.1 passing yards per game, ranking third-lowest among quarterbacks with 800+ attempts. Injuries limited him to 5-5 in 2024 before a Week 14 concussion and broken hand ended his season.The Saints find themselves in a bind. Carr's no-trade clause limits their options. Even restructuring provides little relief, merely pushing massive cap hits to 2026 and 2027. As Mickey Loomis focuses on hiring a new head coach, this $51 million question looms large over the franchise's future.