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Report: Raiders, Derek Carr close to deal worth $25 million per year

Buffalo Bills v Oakland Raiders

OAKLAND, CA - DECEMBER 4: Quarterback Derek Carr #4 of the Oakland Raiders looks to throw against the Buffalo Bills in the third quarter on December 4, 2016 at Oakland-Alameda County Coliseum in Oakland, California. The Raiders won 38-24. (Photo by Brian Bahr/Getty Images)

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The Raiders are close to finalizing a deal with Derek Carr that will pay the quarterback $25 million per year, according to Adam Schefter of ESPN.

Per Schefter, the sides still are finalizing language, but the record deal could be announced by the end of the week.

Reports earlier this month indicated Carr was on his way to becoming the first quarterback to make $25 million annually, and it appears that day is closer than ever. Colts quarterback Andrew Luck has an average annual paycheck of $24.594 million per season, currently the highest. Carson Palmer and Drew Brees also make more than $24 million per season.

Carr, who is scheduled to make $977,519 in base salary in 2017, has insisted he wanted to complete a deal before training camp to avoid distractions.