Raiders' Updated Salary Cap After Derek Carr's Reported $121.5M Contract Extension

The Las Vegas Raiders and quarterback Derek Carr reportedly agreed to a three-year, $121.5 million contract extension Wednesday.

Ian Rapoport of NFL Network reported the deal will be tacked on to the final season of Carr's current contract, keeping him with the Raiders through 2025. It also includes a no-trade clause, per Mike Garafolo of NFL Network.

Full terms of the extension weren't immediately announced, but it'll likely help Vegas open up more salary-cap space for 2022. It had just $5.1 million beforehand, per Spotrac.

Carr has spent the past eight years as the Raiders' starter after the franchise selected him in the second round of the 2014 draft.

The 31-year-old Fresno State product has endured an up-and-down career. He was seemingly on an upward trajectory in 2019 and 2020, posting a 48-17 touchdown-to-interception ratio over those two seasons, but he took a step back in 2021.

He completed 68.4 percent of his throws for 4,804 yards, which ranked fifth in the NFL, but he threw just 23 touchdowns in 17 games and tossed a career-high 14 picks. He rated 14th in ESPN's Total QBR (52.4).

Although there have been murmurs over the years that the Raiders could move on from Carr, including talk of a possible Aaron Rodgers blockbuster this offseason, a trade or free-agent signing to end his time as the team's No. 1 has never appeared to be close.

Instead the front office has committed to the three-time Pro Bowl selection as its starting quarterback for at least a handful more years.

In February, Carr said he was looking forward to the opportunity to use money from a contract extension for good causes.

"I'll do what I can to continue to bless my family and bless people all around the world," Carr told reporters. "I truly believe that God has allowed me to be in such a position with that stuff. I'm thankful that He can trust me to do the right thing with that money."

On the field, the Raiders will hope for a bounce-back season with numbers closer to what Carr posted during that 2019-20 stretch.

The addition of superstar wide receiver Davante Adams, Rodgers' longtime top target with the Green Bay Packers, to a pass-catching group that also features tight end Darren Waller and receivers Hunter Renfrow and Bryan Edwards should help in that quest.

Add in a rushing attack led by Josh Jacobs and Vegas should have the ingredients for a top-tier offense if Carr performs at a high level in 2022.