The Oakland Raiders made Derek Carr the highest paid NFL player via a five-year, $125 million contract extension on June 22.
Carr’s extension includes $40 million fully guaranteed, $70 million in total guarantees and a $12.5 million signing bonus, per NFL.com. The 2014 second-round pick surpasses Andrew Luck as the league’s highest paid player based on average annual salary.
#Raiders $125M extension for QB Derek Carr includes $40M fully guaranteed and more than $70M in total guarantees. Under contract thru ‘22
— Ian Rapoport (@RapSheet) June 22, 2017
Carr was slated to make less than a million dollars this season before the extension. The 26-year-old quarterback made $1.46 million last season, per Over the Cap.
The two-time Pro Bowler provides the stability that the Raiders have not seen in decades. He is the youngest Pro Bowl quarterback for Oakland since Kenny Stabler. Carr is also the 16th starter at QB since Rich Gannon won the 2002 NFL MVP.
Previously, it was reported that Carr had a deal done. He shot those rumors down on Twitter. Then, he confirmed the contract for himself.
After the season, Carr and the Raiders had stated a desire to get an extension done before the start of training camp. Carr said he would not even talk about an extension once the season got started.
Now it's done 😂! From the jump I've wanted to be a Raider 4 life. One step closer to that! Blessed!!! Business done! Let's just play now!!!
— Derek Carr (@derekcarrqb) June 22, 2017
In three seasons, Carr has thrown for 11,194 yards, 81 touchdowns and 31 interceptions. Last season, Carr graded as the sixth best quarterback, per Pro Football Focus. Football Outsiders ranked Carr seventh amongst QBs for total value.
Many players and coaches took to Twitter to congratulate Carr on his new deal.
Woke up and seen @derekcarrqb new contract and got out of bed so fast lol, I can't get paid sleeping 😂😂 Congrats bro you deserve it..
— Todd Gurley II (@TG3II) June 22, 2017
— Todd Downing (@CoachTD) June 22, 2017
Otherwise, there are questions about how Carr’s new deal impacting negotiations for other quarterbacks in the league. Carr’s $47 million in guarantees dues to injury falls well short of Luck’s $87 million, per ESPN’s Dan Graziano. Graziano said that representation for a quarterback like Matt Stafford probably passes on a deal like Carr’s due to the low upfront guarantees.
Either way, Graziano expects that another quarterback could take the highest-paid player title from Carr very soon. Carr finished last season with 3,937 passing yards, 28 passing touchdowns, and only 6 interceptions. He completed 63 percent of his passes as the Raiders went 12-3 with him as a starter.