Derek Carr gets only $24.9 million fully guaranteed at signing
The early tweets trumpet quarterback Derek Carr’s extension as having a new-money average of $40.5 million per year. As usual, the truth comes out later.
Per a source with knowledge of the terms, the Raiders have basically given Carr a $3.9 million raise for 2022 and a significant injury guarantee for 2023 and beyond, in exchange for the flexibility to cut him after one season, if they so choose.
Carr was due to make $21 million in 2022, the last year of his contract. He’ll now make $24.9 million, fully guaranteed. Another $40.4 million is guaranteed for injury until the third day of the 2023 waiver period.
Although it’s generally regarded that triggers based on the early days of the waiver period won’t result in a player being released, the Raiders have the right to do it. And if they decide after one year to move on to someone else, they’ll be able to dump Carr (if he’s healthy) and move on.
A full breakdown of the contract is coming. For now, the truth is fairly obvious. It’s not the kind of deal that other high-end quarterbacks recently have gotten.