Carr deal done: Record $25 mil a year
Quarterback in fold through 2022 with the richest NFL contract ever
Derek Carr said he wanted to be a Raider for life, and took a huge step in that direction Thursday morning by agreeing to the richest contract in NFL history. The quarterback will make an average of $25 million a season after he and the Raiders agreed to a five-year contract extension for $125 million, league sources said.
“Blessed!!!,” the quarterback tweeted. “Business done! Let’s just play now!!!”
The deal comes well in advance of a July 28 deadline — the start of training camp — that Carr had set. Including the last year of his rookie contract, Carr is now signed for the next six seasons, through 2022.
His new deal surpasses the biggest one in the league, that of Colts quarterback Andrew Luck (average of $24.6 million a season). Former Raiders and now Cardinals quarterback Carson Palmer is next at $24.35 million, and Drew Brees takes home an average of $24.25 million a year.
The details of the contract were not known yet, but Carr wanted to make sure that the Raiders would be able to extend players such as guard Gabe Jackson and defensive end Khalil Mack in the near future. That’s why, sources said, a lot of the cash payout has been backloaded to the
later years of the deal.
This also lets Carr take advantage of the fact that Nevada has no state income taxes. The Raiders are moving to Las Vegas in 2020.
Close to $70 million is expected to be guaranteed in the deal, with $40 million of that guaranteed at signing (the rest is in case of injury) and $12.5 million of that coming as a signing bonus.
Carr, 26, is the only quarterback to throw more than 80 touchdown passes and fewer than 40 interceptions in his first three seasons. His 81 touchdown passes through three years rank fourth all-time behind Dan Marino, Luck and Peyton Manning.
Carr was picked for the Pro Bowl for a second time last season, throwing for 3,937 yards and 28 touchdowns with six interceptions before breaking his leg and missing the last regularseason game and the team’s first playoff game in 14 years.
Raiders offensive coordinator Todd Downing, who was the team’s quarterbacks coach the past two years before getting promoted, tweeted his congratulations.
“You won't find a harder working or more deserving man than Derek Carr,” Downing tweeted. “Congrats! I am happy for you & your fam & excited for what is next!”
The former second-round pick out of Fresno State has come a long way since an 0-10 start to his rookie season, when he averaged 5.5 yards per attempt.
While the Raiders aren’t making the news official until Friday, head coach Jack Del Rio joined Downing and Carr’s teammates in congratulating him on Twitter.
“Congrats w/ extension!!” Del Rio tweeted. “Continue to be the great teammate and leader you R. God Bless you & your family!