The Oakland Raiders have yet to move to Las Vegas, but they’re already betting big on their quarterback. The Raiders on Thursday signed quarterback Derek Carr to an NFL-record $125 million, five-year contract extension. The deal surpasses the extension Indianapolis Colts QB Andrew Luck signed last year for $122.9 million over five years.
The Raiders are scheduled to move from Oakland to Las Vegas in 2020 and will now do so with their franchise QB in place. The deal keeps Carr under contract with the Raiders through the 2022 season, allowing him to be a free agent in 2023.
While details of the contract have yet to be released, Carr’s new paycheck will get him closer to becoming one of the richest athletes in the world. Take a look at where Derek Carr’s net worth stands today.
Derek Carr Net Worth: $23.5 Million and Growing
Derek Carr has a current net worth of $23.5 million, according to Coed. Carr’s massive new deal gives him an annual value of $25 million. That puts him at the top of the list of NFL QBs, ahead of Luck ($24.6 million), the Arizona Cardinals’ Carson Palmer ($24.4 million) and the New Orleans Saints’ Drew Brees ($24.3 million).
Carr, who was to receive $977,519 in salary in 2017, will reportedly get $40 million guaranteed at signing and has $70 million in guarantees overall.
Now it’s done :joy:! 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
The contract is also expected to pay Carr more toward the end of the deal, according to the Las Vegas Journal-Review. This would allow the Raiders to sign other key players to new deals in the short term and allow Carr to take advantage of Nevada’s lack of state income tax after moving there from California.
The 26-year-old Carr was a second-round selection by the Raiders in the 2014 NFL Draft out of Fresno State. He has been named to two Pro Bowl teams in his three seasons in Oakland.
Derek Carr Stats
Carr put up some of the best numbers of his career in 2016, a season that was eventually cut short by a broken leg suffered in Week 16 on Christmas Eve. He threw for 3,937 yards with 28 touchdowns against six interceptions through 15 games with a career-best passer rating of 96.7.
The Raiders were 12-3 after holding on to beat the Colts after Carr was injured in the Dec. 24 game. The team had already clinched a playoff berth, but without Carr the Raiders lost their regular-season finale to the Denver Broncos on Jan. 1 and fell to the Houston Texans in the first round of the playoffs.
Carr was considered a contender for NFL MVP in 2016, but he lost out to Atlanta Falcons QB Matt Ryan. For his career, Carr has thrown for 11,194 yards, 81 touchdowns and 31 interceptions in three seasons.
While he broke his leg near the end of the season, Carr was considered one of the most well-protected QBs in the NFL last season. He was sacked an NFL-low 16 times in 2016 and has been taken down just 71 times in his 47-game career. Luck, by comparison, has suffered 156 sacks in his 70-game career.