Why Indianapolis Colts Should Be Eyeing Derek Carr amid Latest NFL Trade Rumors

When Las Vegas Raiders head coach Josh McDaniels announced that Jarrett Stidham would start the final two games of the regular season, it became clear that Derek Carr's future is no longer in Las Vegas.

One team that should be watching Carr's situation closely is the Indianapolis Colts.

The 31-year-old three-time Pro Bowler would instantly be one of the top players available if he were to hit the open market. According to NFL Media's Ian Rapoport, however, Carr is much more likely to be traded.

"Las Vegas is expected to explore trade options for quarterback Derek Carr, sources say," Rapport wrote on Sunday.

Rapoport also noted that Carr wants to continue playing beyond this season:

"Carr, a three-time Pro Bowler, once famously said he'd rather quit football than play for another team. But make no mistake: Carr has no plans to retire and has no plans to go out like this. Sources say he's telling people close to him that he has his best football ahead of him."

The Colts should try to ensure that Carr's best football is played in Indianapolis. Many of the other pieces are in place. The Colts have an elite running back in Jonathan Taylor, quality receivers in Michael Pittman Jr. and rookie Alec Pierce, and a defense that ranks a solid 16th in yards allowed.

What Indianapolis doesn't have—and hasn't since Andrew Luck retired in 2019—is a true franchise quarterback.

The Colts have tried to patch the position with veteran signal-callers. Jacoby Brissett steered them through 2019, while Philip Rivers took Indy to the playoffs in 2020. However, Carson Wentz and Matt Ryan largely flopped in 2021 and 2022, respectively.

Carr is different, though. He's a proven starter, a durable quarterback and someone who can steer a team through the ups and downs of a season.

"He's got a lot of good football left, and somebody's going to go after him hard," former Washington Commanders coach Jay Gruden told the Russell and Medhurst Show (h/t David Harrison of FanNation). "He's smart, he's a great leader, and somebody will be glad to have him."

Washington is another franchise that will likely be eyeing Carr in the coming weeks. But will Carr want to go to a division that is sending three other teams to the playoffs this year? Perhaps not, and this is why Indy may have an advantage.

Carr's contract, which runs through 2025, comes with a no-trade clause. This means that Carr will get to pick his next destination, to a degree.

Cap space will also be a factor, as Carr is due to earn $35.9 million next season. The Colts are projected to have $27.9 million in cap space without factoring in Ryan's contract. The Colts can save another $17.2 million off the cap by releasing him.

Indianapolis can add Carr without asking him to take a pay cut. From there, it will be a matter of selling him on the supporting cast and the team's playoff chances. Existing in an AFC South that is about to send one 9-8 team to the playoffs could be a big selling point.

Instead of residing in a division dominated by the Kansas City Chiefs, and also featuring Justin Herbert and Russell Wilson, Carr could join one ripe for the taking.

There is Indianapolis' uncertainty at head coach to consider—the Colts presumably won't stick with Jeff Saturday beyond next weekend—but adding Carr could help there. No trade could become official until the spring, but as Rapoport noted, the Raiders could have a deal in place long before then.

"While no trade could be official until the league year begins, trades are routinely agreed to in principle before then being finalized in mid-March," Rapoport wrote.

For whomever Indianapolis targets as its next head coach, the current roster will be a lot more attractive with Carr at its helm than with Nick Foles or Sam Ehlinger. Carr is good enough to lead a team to the playoffs, and he's young enough to do it for the next five-to-10 years.

And if the Colts choose to draft and develop a quarterback behind a proven veteran, Carr is the perfect candidate. Even if the Raiders insist on a team taking on the dead money in Carr's contract, that's only $5.6 million after this season.

Carr can be had on a year-to-year basis, so using a first-round pick (currently fifth overall) could remain an option.

Of course, getting an agreement in place isn't as simple as making a few phone calls. Other teams will be interested, and Las Vegas is likely looking at a solid trade haul in return.

The Commanders swapped 2022 second-round picks with Indianapolis and gave up a 2022 third-rounder and a conditional 2023 third-rounder for Wentz and a 2022 seventh-round pick. Carr could command a first-round selection, and Indy probably won't want to cough up a top-five pick.

Armed with two second- and two third-round picks in 2023, however, Indy could make a strong offer without giving up its first-round selection. Three or four Day 2 picks or a couple of picks and a future first would certainly entice a Raiders team that wants no part of Carr moving forward.

If the Colts hope to return to relevance in the AFC South next season, they should make their play for Carr, and they should do it soon. There are never enough quality starting quarterbacks to go around in the NFL. Carr is one of them, and other teams are sure to come calling.

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*Cap and contract information via Spotrac.