5:12 p.m.: According to SI.com’s Albert Breer, Carr’s contract includes a $65.5 million injury guarantee, and the deal will earn the ninth-year veteran a $5.2 million raise in 2022 (Twitter shortcut). Carr will make $24.9 million fully guaranteed in 2022, notes Pro Football Talk’s Mike Florio.
A key date comes after Super Bowl LVII. Three days after the Super Bowl, Carr is fully guaranteed $40.5 million — his $33 million salary for 2023 and $7.5 million from his 2024 salary, Breer tweets. This would give the Raiders a small window to work out a trade in 2023, but Carr’s no-trade clause gives him the final say in a possible emergency exit deal for the team.
9:33 am: The robbers and Derek Carr have agreed to a three-year extension worth $121.5 million (Twitter shortcut via Ian Rapoport of NFL.com). That leaves the Raiders’ star quarterback in place through the 2025 season. 
Carr’s deal includes a no-trade clause (Twitter shortcut via NFL.com’s Mike Garafolo), a rarity in the NFL that only about a dozen players enjoy. Overall, Carr is expected to earn $141.3 million over the next four years, with $100 million over the next three seasons, per Garafolo. That’s player-friendly cash flow for Carr, who was fighting for his Raiders future just a few years ago.
It’s the latest splash in the Raiders’ busy offseason after they acquired wide receivers Davante Adams. Ultimately GM David Ziegler and head coach Josh McDaniels have kept much of the core intact while overhauling the team after a tumultuous 2021.
Carr’s average new money of $40.5 million ranks him fifth among all quarterbacks and, according to NFL.com’s Tom Pelissero (Twitter shortcut), he is now the seventh member of the league’s $40 million annual club to join Aaron Rodgers, Deshaun Watson, Patrick Mahomes, Josh Allen, Matthew Stafford and Dak Prescott.
Carr, who just turned 31, had a year left to complete his old contract with a $19.8 million cap hit. After he posted a career-high 4,804 passing yards en route to his first-ever playoff appearance, the Raiders didn’t want to risk losing him. Now Carr has a great new contract and an old friend in Adams, his former teammate at Fresno State.
“Obviously, Derek fitting into the team as a player is what we’re looking for and building on,” McDaniels said recently. “[When it comes to the contract,] They try to do what is best for the team. As we get into these conversations with Derek, Derek will have to make decisions about what’s best for him… Hopefully there will be a sweet spot for everyone and we look forward to continuing that way.”
Today, the Raiders are no doubt excited as they have their three-time Pro Bowler locked up for years to come.