The Las Vegas Raiders’ brass has made it clear that Derek Carr will remain the face of the franchise moving forward.
Since being hired, head coach Josh McDaniels and general manager Dave Ziegler have thrown their support behind the three-time Pro Bowl quarterback. Most recently, there’s been reports that the Raiders are open to signing Carr to a contract extension this offseason.
Now comes this note from NFL insider Jordan Schultz that the Raiders are prepared to offer Derek Carr top-end quarterback money. The report also indicates that the former second-round pick is seeking $35-plus million annually on a new contract.
- Derek Carr contract: 5 years, $125 million ($19.9 million cap hit in 2022, free agent in 2023)
As you can see, Carr is vastly underpaid in the grand scheme of things. When he signed his current contract with the Raiders back in 2017, Carr was one of the five highest-paid signal callers in the NFL. Since then, the quarterback market has continually reset itself.
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Derek Carr contract extension, what it might look like
We have to couple Carr’s performance in with the current quarterback market when coming to a conclusion about what an extension might look like.
Right now, Kansas City Chiefs star Patrick Mahomes is the trendsetter. He’s earning $45 million annually on his record-breaking 10-year, $450 million contract with the Kansas City Chiefs.
Josh Allen of the Buffalo Bills is right behind at $43 million per season on his six-year deal with the Buffalo Bills. Meanwhile, Dallas Cowboys’ star Dak Prescott has joined the $40 million club — earning that exact amount on his extension with the Dallas Cowboys.
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- Derek Carr stats (2021): 68% completion, 4,804 yards, 23 TD, 14 INT, 94.0 rating
Statistically, Carr’s 2021 performance doesn’t even come close to those three quarterbacks we mentioned above. In fact, he was not even a top-10 signal caller during the 2021 season. In terms of average annual salary, the top-10 quarterbacks average $35 million. That’s apparently the starting off point for Carr and his rep over at Younger & Associates, Timothy Younger.
An argument can be made that Carr’s stats should be glossed over. The 30-year-old quarterback led his Raiders to a shocking 10-7 record and a playoff appearance this past season. He also acted as a team leader during a trying season that included way too much off-field turmoil. This has to be taken into account.
We also have to look at how the quarterback market continues to reset on a never-ending basis. With the likes of Baker Mayfield, Kyler Murray and Lamar Jackson now eligible for extensions, getting a deal done with Carr in short order has to be the Raiders’ top priority during the offseason. Waiting this out could cost the team more, especially if Murray’s demand of north of $40 million annually is met.
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So, what might a Derek Carr contract extension look like with the Raiders? It would likely come in at $140 million over four seasons, making the Pro Bowler the sixth-highest paid quarterback in the NFL right up there with Russell Wilson of the Seattle Seahawks.