Derek Carr is not only staying with the Oakland Raiders, but is now the highest-paid player in NFL history in terms of yearly salary.

Derek Carr Is Now The Highest-Paid NFL Player in terms of Yearly Salary

The team — which will be moving to Las Vegas in 2020 — announced on Thursday that the 26-year-old quarterback — who has played in Oakland for three years — has signed a five-year, $125 million extension with $40 million fully guaranteed and $70 million in total guarantees, according to NFL Network Insider Ian Rapoport.

With the deal — which will grant him $25 million a year on average — Carr passes Indianapolis Colts passer Andrew Luck as the league’s top paid player in terms of average money earned per year. Luck signed a six-year, $140 million extension with the Colts in June 2016 for an average of $23.3 million per season. That deal included $87 million guaranteed, and Luck also had $16 million guaranteed on the fifth day of this league year.

Carr — who was drafted by the Raiders out of Fresno State as a second-round pick in 2014 — is a two-time Pro Bowler who was a top contender for MVP in 2016 before he injured his leg on Christmas Eve. In his three seasons in Oakland, the quarterback has recorded 11,194 passing yards, 81 touchdowns and 31 interceptions.

The QB was just completing his rookie contract, and was originally owed less than $1 million in base salary this year.

Since Carr was a second-round draft selection, his contract did not include the fifth-year option teams typically offer to first-rounders and could negotiate his deal sooner.

Carr enjoyed a stellar campaign in 2016. He completed 63.8% of his passes for 3,937 yards and 28 touchdowns versus only six interceptions. His season-ending leg injury came in Week 16 against the Colts.

Following that game, the Raiders were 12-3 and they went on to lose their regular-season finale (and AFC West lead), as well as their wild-card contest against the Houston Texans.

The Raiders will be relocating to Las Vegas in 2020, after the construction of their new stadium is completed. NFL team owners voted to approve the move 31-1 at their Annual League Meeting in March.

KANSAS CITY, MO – DECEMBER 8: Quarterback Derek Carr #4 of the Oakland Raiders throws a pass against the Kansas City Chiefs at Arrowhead Stadium during the first quarter of the game on December 8, 2016 in Kansas City, Missouri. (Photo by Peter Aiken/Getty Images)

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