The Las Vegas Raiders and quarterback Derek Carr have agreed to a three-year, $121.5 million extension.
The deal ties him to the team until 2025, which would be his 12th season with the Raiders.
Carr gets $24.8 million guaranteed signing, including a $7.5 million signing bonus.
The former Fresno State standout gave the Raiders a discount in the first year of his extension, accounting for just $34.8 million in cap space.
That’s a good deal considering the average annual value of a franchise quarterback is $40 million.
Carr revealed that he structured his contract to keep their guys and prevent what happened with Khalil Mack.
But even though he gave the Raiders a discount, Sports Illustrated’s Andrew Brandt thinks the deal doesn’t make much sense.
I just don’t get Derek Carr’s contract; traditional team friendly guaranteed for one year, then all risks are assumed by the player.
Teams can and will try to explain away the Watson contract as an outlier (and the Raiders succeeded here), but it’s real, and it’s the new precedent.
— Andrew Brandt (@AndrewBrandt) April 14, 2022
Brandt tweeted, “Just not getting Derek Carr’s contract; traditional team friendly guaranteed for one year, then all risks pass to the player. Teams can and will try to explain away the Watson contract as an outlier (and the Raiders succeeded here), but it’s real, and it’s the new precedent.
Deshaun Watson has signed a fully guaranteed, five-year, $230 million deal with the Cleveland Browns for full disclosure.
But in some ways, the Raiders made sure Carr would get his 2023 salary no matter what.
A deeper dive into Carr’s contract extension
Carr’s salary in 2023 will be guaranteed in two ways.
First, he will receive this money by February 15 next year.
However, his salary is also guaranteed in the event of a signing injury.
The contract partially copied what the Browns gave Watson, in which the quarterback doesn’t need to meet certain milestones to get his salary.
Additionally, Carr’s base salaries for 2024 and 2025 are $41.9 million and $41.2 million.
Therefore, Carr will get her due no matter what.