NEW ORLEANS (AP) — Former Raiders quarterback Derek Carr has agreed to a four-year contract with the New Orleans Saints, and a person familiar with the situation said the deal could be worth up to $150 million.

The person spoke to The Associated Press about the contract’s value on condition of anonymity Monday because financial terms were not released when the Saints announced their agreement with Carr.

“Derek’s experience, leadership and skillset will be an asset to our offense,” Saints general manager Mickey Loomis said.

Carr played nine seasons for the Raiders and holds club records for yards passing (35,222) and touchdown passes (217). But after struggling late last season, Carr was benched with two games remaining.

Carr, who turns 32 on March 28, was released by Las Vegas on Feb. 14 after he declined to waive the no-trade clause in his contract. Las Vegas needed to trade or release him by that date or $40.4 million of his contract over the next two years would have become fully guaranteed.

Who dat ⚜️ pic.twitter.com/DIY8gBGuGu

— Derek Carr (@derekcarrqb) March 6, 2023

The knock on Carr was that his tenure as the Raiders’ starting QB produced just two playoff appearances and no postseason victories. Now he will have an opportunity in New Orleans to demonstrate that he can get better results with a different organization.

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Carr indicated during the week of the Pro Bowl that a talk with Peyton Manning encouraged him to explore free agency. The Indianapolis Colts released Manning in 2012 and he went on to win a Super Bowl with the Denver Broncos after the 2015 season.

“I’m just looking for teams that have made that decision consistently that they’ll do whatever it takes to put a winning program out there,” Carr said on Feb. 2. “So for me, that’s just to win, win a championship. That’s at the forefront of the mind. It’s not money.”

Got our guy.

The New Orleans #Saints have agreed to terms with QB Derek Carr! pic.twitter.com/F9Au1Uc59F

— New Orleans Saints (@Saints) March 6, 2023

Since 2006, the Saints have made the playoffs nine times and won a Super Bowl, but all of those postseason appearances came with franchise all-time passer Drew Brees as quarterback and Sean Payton as coach. Now Brees is retired and Payton is with the Denver Broncos.

Saints coach Dennis Allen was the Raiders’ coach when the club selected Carr in the second round of the 2014 draft out of Fresno State. Allen coached Carr for four games before he was fired that year.

🚗

— New Orleans Saints (@Saints) March 6, 2023

“In addition to his talent, I admired his approach to the game, work ethic and commitment to get better every day in what were the formative stages of his career,” Allen said. “From afar and when we played him as an opponent, I saw Derek’s development into one of the most productive quarterbacks in the National Football League.”

The signing should provide a measure of stability for the Saints at an all-important position that was shrouded in uncertainty following the club’s 7-10 2022 season.

Jameis Winston is under contract with Saints through 2023, but New Orleans could release him. His contract calls for a base salary of $12.8 million next season and he played in just three games in 2022 before losing his job — in part because of a back injury — to Andy Dalton.

Vibes high. Let’s work. ⚜️#Saints | @derekcarrqb pic.twitter.com/FtwwYe4lhE

— New Orleans Saints (@Saints) March 6, 2023

Winston, who was hurt in Week 1, tried to continue playing in Weeks 2 and 3, when he threw five interceptions and was sacked seven times while passing for just two TDs.

When Winston asserted he was healthy enough to play again and wanted another chance, the Saints stuck with Dalton, who completed 66.7% of his passes for 2,871 yards with 18 touchdowns and nine interceptions in 14 starts.

Dalton, 35 and a 12-year NFL veteran, is due to be a free agent this offseason.