Money in the NFL is a weird, fleeting thing. One minute you're the face of the Silver and Black with a nine-figure extension, and the next, you're looking for a moving company in Henderson while the team eats millions in "dead cap" just to make you go away. It’s brutal.
Honestly, if you look at former Raiders quarterbacks contracts, you start to see a pattern of high-stakes gambling that would make any casino on the Strip nervous. From the days of Al Davis throwing bags of cash at big arms to the modern era of "escape hatches" and void years, the Raiders have a long history of paying for what they hope a player will be, rather than what they actually are.
Let’s talk about the guys who left the building recently. Because that's where the real drama lives.
The Derek Carr Era: A Lesson in "Commitment" (With an Asterisk)
Derek Carr was the guy. For nine years, he was the only constant in a building that saw more turnover than a Vegas buffet. When he signed that three-year, $121.5 million extension in 2022, everyone thought he’d retire in silver.
But the contract was basically a mirage.
The Raiders, under Josh McDaniels at the time, built in a massive "out." While the headline said $121 million, the reality was that they could cut him before February 15, 2023, and owe him almost nothing. It was a "prove it" deal disguised as a franchise contract.
When the team benched him for the final games of 2022, they weren't just looking at Jarrett Stidham. They were protecting their bank account. If Carr had gotten hurt in those last two games, over $40 million in future injury guarantees would have kicked in. By sitting him, they kept the option to cut him and save that cash.
- Total Extension Value: $121,500,000
- The Reality Check: He only saw $25 million of that specific deal before being released.
- The Aftermath: The Saints eventually gave him $150 million, but Raiders fans still argue about whether the team "did him dirty" or just made a smart business move.
Jimmy Garoppolo and the "Injury Clause" Drama
Replacing Carr with Jimmy Garoppolo was... a choice. It was a three-year, $72.75 million deal that looked decent on paper. Until we found out about Addendum G.
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Basically, Jimmy G failed his initial physical. The Raiders didn't panic and scrap the deal; they just rewrote the contract. They removed his $11.25 million signing bonus and turned it into base salary that they didn't have to pay unless he passed a physical later.
It was a safety net for a guy who, let’s be real, has spent a lot of time on training tables.
The deal was essentially a one-year experiment. When he was benched for rookie Aidan O'Connell, the writing was on the wall. The Raiders eventually released him, but because of a PED suspension that voided his guarantees, they actually caught a massive break on the cap.
The JaMarcus Russell Ghost
You can't talk about former Raiders quarterbacks contracts without mentioning the 2007 draft. It’s the law.
JaMarcus Russell signed a six-year, $68 million contract. Back then, there was no "rookie wage scale." He held out, missed camp, and then proceeded to provide one of the worst returns on investment in sports history.
He ended up pocketing over $36 million for just seven wins.
Comparing that to someone like Aidan O’Connell, who is playing on a four-year, $4.34 million rookie deal, is wild. O'Connell makes about $1 million a year. Russell was making more than that just to show up to the facility (sometimes).
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Why Gardner Minshew Changed the Strategy
When the Raiders brought in Gardner Minshew for the 2024 season, the contract felt different. Two years, $25 million. $15 million of that was fully guaranteed.
It wasn't "franchise" money, but it wasn't "backup" money either. It was the quintessential bridge contract.
The beauty of Minshew’s deal is the flexibility. The Raiders didn't tie themselves down for five years. They bought themselves a competitive room while they figured out if O’Connell—a fourth-round pick with a tiny cap hit—could actually be the guy.
Breaking Down the Dead Cap Hits
When a quarterback leaves, the money doesn't just disappear. It lingers.
| Quarterback | Years with Team | Final Contract Impact |
|---|---|---|
| Derek Carr | 2014-2022 | $5.6M dead cap hit in 2023 after release |
| Jimmy Garoppolo | 2023 | Significant savings due to voided guarantees |
| Marcus Mariota | 2020-2021 | Renegotiated down to $3.5M for his second year |
| Carson Palmer | 2011-2012 | Cost two high draft picks and $15M in earnings |
The Raiders are finally getting away from those massive "dead money" years that used to kill their ability to sign free-agent defensive tackles.
The "Bridge" Philosophy
Lately, the team has pivoted. Instead of locking in a Tier 2 veteran to a Tier 1 contract, they are looking for value.
Look at Marcus Mariota’s stint. He signed for two years and $17.6 million in 2020. People thought he might push Carr for the job. Instead, the Raiders realized the price was too high for a backup and forced him to take a pay cut down to about $3.5 million just to stay on the roster in 2021.
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That’s the business. It’s cold.
How to Evaluate These Deals Yourself
If you’re trying to figure out if a new Raiders QB contract is actually good, don't look at the "Total Value." That number is for agents to tweet so they look successful.
Instead, check the Fully Guaranteed money and the Dead Cap if cut after Year 2.
If the dead cap is low in the second or third year, the team doesn't actually believe in the guy. They are just dating him until someone better comes along in the draft.
Actionable Insights for Fans
- Track the "Out" Year: Most modern Raiders QB deals (like Garoppolo's or Minshew's) have a clear point where the team can walk away for less than $5M in dead cap.
- Watch the Guarantees: If a contract has less than 40% of the total value guaranteed, it's a "team-friendly" deal, regardless of how many millions the headline claims.
- Monitor Rookie Contracts: Guys like Aidan O'Connell are the ultimate value play. If a $1M player performs at 80% of a $30M player, the team has $29M extra to spend on the defense.
The Raiders have spent decades trying to buy a solution at quarterback. Sometimes they hit (Rich Gannon’s 1999 deal was a masterclass), and sometimes they miss spectacularly. But the contract structure always tells you exactly how much the front office trusts the man under center.
Follow the money, and you'll usually find the truth.