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As Profootballtalk.com's Josh Alper framed it, "The Raiders and quarterback Derek Carr found their sweet spot."

Head coach Josh McDaniels said last month that he hoped the two sides would find that “sweet spot” in negotiations for a contract extension this offseason. On Wednesday, they reached it and Carr has agreed to a three-year extension with the team.

Ian Rapoport of NFL Network reports that the new pact is worth $121.5 million. Carr is in the final year of his current deal, so he’s now under contract in Las Vegas through the 2025 season.

According to NFL Network's Tom Pelissero, Carr's $40.5 million new-money average puts him fifth among QBs and makes him the seventh member of the $40 million-plus club, joining Aaron Rodgers, Deshaun Watson, Patrick Mahomes, Josh Allen, Matthew Stafford and Dak Prescott.

Worth noting: The deal wide receiver Davante Adams signed after coming to the Raiders in a trade runs through 2026, so the Raiders now have two offensive linchpins locked up for years to come thanks to the work done by McDaniels and general manager Dave Ziegler since they joined the organization earlier this year.

Carr led the Raiders to the playoffs in 2021 as he set a career-high in passing yards (4,804). He was the unquestioned leader on the team after Jon Gruden resigned midway through the season. Carr has significantly improved as a passer over the last three seasons, averaging 7.8 yards per attempt. That is quite an improvement since earlier in his career when he averaged just 6.7 yards per attempt from 2014 to 2018.

Now Carr has Adams, tight end Darren Waller and receiver Hunter Renfrow at his disposal.

What does the addition of Adams do?

In their two seasons as Fresno State Bulldogs, Adams led the FBS in receptions, receiving yards and receiving touchdowns while Carr led the division in passing yards and passing touchdowns. With McDaniels coming on board as well, expect the offense to offer ample opportunity for Carr to leverage all his weapons.