Sources: Derek Carr, Raiders Agree to Three-Year, $121.5 Million Contract Extension

Las Vegas has locked down its quarterback through the 2025 season.

Derek Carr and the Raiders have reportedly agreed to a contract extension that will keep the longest-tenured quarterback in the AFC in Las Vegas through the 2025 season. 

As first reported by NFL Network’s Ian Rapoport, Carr and the Raiders came to terms on a three-year extension worth $121.5 million. The $40.5 million average yearly salary on the new deal will make the 31-year-old the fifth-highest paid NFL quarterback on an annual basis, per NFL Network’s Tom Pelissero. 

The #Raiders and star QB Derek Carr have agreed to terms on a 3-year contract extension worth $121.5M, source said. The agreement ties Carr to Las Vegas through the 2025 season. He is already the longest tenured QB in the AFC. 💰 💰 💰

— Ian Rapoport (@RapSheet) April 13, 2022

The extension will set Carr up to earn a total of $141.3 million over the next four years, $100 million of which will be paid out in the next three seasons. The deal also contains a no-trade clause, according to NFL Network’s Mike Garafolo.

This essentially works out to $141.25M over the next 4 years for Derek Carr, and it got done fast b/c, as one source put it, "We all wanted the same thing."

Also, there's no bonus proration left from the old deal, so it'll average $35 million per on the cap from '22-'25. https://t.co/PRq7DsQuQ7

— Albert Breer (@AlbertBreer) April 13, 2022

Carr is coming off one of the best seasons of his career in 2021 as he led the Raiders to their first playoff appearance since the ’16 campaign. He finished the year having played in all 17 games, completing 68.4% of his passes for a career-high 4,804 yards, 23 touchdowns and 14 interceptions.

Since being selected in the second round of the 2014 NFL draft, Carr has spent his entire career with the Raiders franchise. He made the Pro Bowl in three consecutive seasons from ’15 to ’17 and has set numerous franchise records, including career passing yards (31,700) and touchdown passes (193).

Las Vegas closed the 2021 regular season with a 10–7 record under interim coach Rich Bisaccia. Following a loss in the wild-card round of the playoffs to the Bengals, the Raiders hired former Patriots offensive coordinator Josh McDaniels to be the team’s next head coach.

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