That deal ties him with the team until 2025, which would be his 12th season with the Raiders.
Carr gets $24.8 million guaranteed at 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 only $34.8 million in cap space.
That’s a bargain considering that a franchise quarterback’s prevailing annual average value is $40 million.
Carr revealed that he structured his contract to keep their guys and prevent what happened with Khalil Mack.
But even if he gave the Raiders a discount, Sports Illustrated’s Andrew Brandt thinks that the contract doesn’t make much sense.
I just don't get the Derek Carr contract; traditional team-friendly one year guaranteed and then all risk goes to the player.
Teams can and will try to explain away the Watson contract as an outlier (and the Raiders succeeded here), but it is real, and it is the new precedent.
— Andrew Brandt (@AndrewBrandt) April 14, 2022
Brandt tweeted, “I just don’t get the Derek Carr contract; traditional team-friendly one year guaranteed, and then all risk goes to the player. Teams can and will try to explain away the Watson contract as an outlier (and the Raiders succeeded here), but it is real, and it is the new precedent.”
Deshaun Watson signed a five-year, $230 million fully-guaranteed deal with the Cleveland Browns for full disclosure.
But in some ways, the Raiders made sure that Carr would get his 2023 salary regardless of what happens.
A Deeper Dive Into Carr’s Contract Extension
Carr’s 2023 salary will be guaranteed in two ways.
First, he will get that money by February 15 of next year.
However, his salary is also injury guaranteed at signing.
The contract partially copied what the Browns gave Watson, wherein the quarterback need not satisfy certain milestones to get his pay.
Furthermore, Carr’s base salaries for 2024 and 2025 are $41.9 million and $41.2 million.
Therefore, Carr will get what’s due to him regardless of what happens.