The team had an option to place the franchise tag on him, giving the former Fresno State close to $30 million in guaranteed money in 2023.
However, Raiders general manager Dave Ziegler and new head coach Josh McDaniels reportedly agree that keeping Carr is the best path to blaze.
Carr also put up solid numbers throughout the regular season, finishing fourth in passing yards (4,804) and 13th in touchdowns with 23.
But while the team’s top brass agree that Carr will be their signal-caller for the foreseeable future, football pundits are speculating the terms of his new deal.
Derek Carr is expected to get a contract extension in the $40 million per year range, according to @VinnyBonsignore.
— Kyle Odegard (@Kyle_Odegard) February 15, 2022
Sources: With the full support of Dave Ziegler and Josh McDaniels, the #Raiders plan to offer Derek Carr top-tier QB money. I’m told that Carr is seeking in the range of $35M+. It’s also worth noting that both sides are open to a short-term extension. https://t.co/d9J2cw2p1E
— Jordan Schultz (@Schultz_Report) February 15, 2022
The second tweet establishes a $35 million annual salary for Carr, which is fair considering that Patrick Mahomes is set to earn up to $500 million in ten years while Josh Allen inked a six-year, $258 million deal.
Carr might not be in the same tier as those two, but McDaniels’ new offense that focuses on play-action and two tight end sets will help unlock the 30-year-old quarterback’s capabilities.
How Long Will The Extension Be?
Both parties agree that a short-term extension is ideal given Carr’s age and the Raiders’ willingness to go with another quarterback should the McDaniels experiment go nowhere.
Therefore, it’s logical that the Raiders will have Carr for at least three more seasons after a two-year extension.
This tweet showed how the team can structure Carr’s deal to soften the salary cap blow.
If #Raiders QB Derek Carr Wants a contract worth $35-40M a year. The team can absolutely do that!!
They'd have to just get creative with the cap. Let's say DC gets a 2 year extension worth $80M, the cap hit could look like this:
— Sanjit T. (@Sanjit__T) February 16, 2022
However, there are also some who don’t agree with the $40 million price tag on Carr.
Vegas Raiders’ QB1 Derek Carr could likely get an extension in the “$40 million per season range.” I feel like that’s a stretch. He’s shown promise, but I feel it’s not enough to get $40M plus per year #NFL #Raiders
— Ray Juray III (@rjuray3) February 15, 2022
Regardless on the deal’s final terms, the Raiders need a solid quarterback if they are to survive the AFC West alone.
Going up against Mahomes and Justin Herbert at least two times a year will be a mismatch if they don’t have anyone at quarterback.