Photo credit: Brian Bahr/Getty Images

The Raiders took care of business with franchise quarterback Derek Carr, who was about to enter the final year of his rookie contract until this happened:

Those initial numbers suggest $25 million in average annual value for Carr, which would be the highest in NFL history, just a smidge above the $24.594 in AAV the Colts gave Andrew Luck last summer. (That’s in new money, since Carr will still earn $1.15 million this season as part of the final year of his rookie contract.) As with all NFL contracts, of course, the real dirt will be in the details: How much is Carr getting fully guaranteed? (Luck got $47 million, while Aaron Rodgers is tops among quarterbacks with $54 million fully guaranteed.)

Update (1:28 p.m. ET):

Also, how might Carr and the Raiders have structured the deal with the CBA set to expire after 2020? And is the pact front-loaded or back-loaded, considering the Raiders are set to move to Vegas in a few years?

Carr’s deal will also set the bar for negotiations for Matt Stafford and Kirk Cousins. Stafford is heading into a contract year, and Cousins is playing on the franchise tag for a second straight season, which carries with it a bargaining deadline of July 17, though Cousins might be better off waiting that one out.

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The NFL’s salary cap keeps rising—it’s up 36 percent since 2013—and franchise quarterbacks have never been more valuable than they are right now.