Carr (fibula) and the Raiders have finalized a five-year, $125 million extension,NFL.com's Ian Rapoport reports.
The average annual value of $25 million in new money narrowly tops Andrew Luck's $24.6 million to set a new NFL record, though Matt Stafford and Kirk Cousins will both push for similar contracts in the coming weeks. Carr was limited throughout the Raiders' offseason program while recovering from a broken fibula suffered in Week 16, but he should be a full participant at the start of training camp as he looks to build on a strong 2016 campaign. He'll benefit from one of the league's best supporting casts, with RB Marshawn Lynch and TE Jared Cook joining a unit that already boasts an elite offensive line and wideout duo. Given the new contract and the talent surrounding him, Carr will be expected to improve upon last season's mark of 7.0 yards per pass attempt. His completion percentage (63.8) and TD:INT ratio (28:6) were impressive, but he'll need to have more success throwing downfield to be mentioned among the league's elite quarterbacks when the discussion moves beyond salary.