Raiders run big risk by waiting on Derek Carr extension

The Las Vegas Raiders have to decide soon on whether to extend quarterback Derek Carr or not.

While Derek Carr is being paid below market value on his current deal with the Las Vegas Raiders, waiting to extend the three-time Pro Bowl quarterback is a risky move for the Silver and Black.

Vincent Bonsignore of The Las Vegas Review-Journal outlined the pros and cons on when is the right time to extend the Raiders quarterback over Twitter. Carr is entering his fourth year of a five-year deal with the Raiders this season. He is slated to make $19,525,000 in base salary, a solid number for Raiders general manager Mike Mayock to help build a contending team around him.

Though there is no hurry to pay Carr top dollar just yet, the NFL salary cap is expected to go up in 2022, as well as three former first-round picks in Josh Allen, Lamar Jackson and Baker Mayfield slated to reset the market on their extensions. Carr will not get Patrick Mahomes or Dak Prescott money, but the Raiders will have to overpay him if those three former first-rounders get paid first.

How should the Raiders go about addressing getting Carr an extension in the next year or so?

Las Vegas Raiders face a huge dilemma in extending quarterback Derek Carr

Since being a second-round pick out of Fresno State in 2014, Carr has been a stabilizing force in the Raiders quarterback room. However, outside of the 2016 NFL season, Carr has not consistently been a top-eight quarterback in the league. He is in his late 20s and should have plenty of high-quality ball left in the tank. We do have to wonder if he is their long-term solution.

This is why if the Raiders want to extend Carr, they need to be proactive about this and do it sooner rather than later. If Las Vegas wants to add three years to his deal, it makes way more sense to do it before Allen, Jackson and Mayfield get paid by their respective teams to reset the market. By waiting to pay him, it may signify the Raiders are considering moving on from Carr.

Keep in mind that the Raiders did not pay his draft classmate Khalil Mack when it was time for him to get a massive payday. Mack had been the best pass-rusher in football during his initial run with the Silver and Black. Unfortunately, cash issues ultimately led to Mack being traded to the Chicago Bears and then signing a massive six-year deal with his new team. Has the cash flow improved?

A big reason why the Raiders moved from Oakland to Las Vegas is potential revenue opportunities. Operating in a state with no income tax and an economy based on tourism is a huge boost for the Raiders. Unfortunately, COVID-19 prevented Raider Nation from seeing a single game inside of beautiful Allegiant Stadium last fall. The Raiders need that gate money big time.

If the Raiders do plan to extend Carr, it absolutely serves them to do it sooner rather than later.