The Derek Carr era officially has come to an end for the Raiders after the organization released the Pro Bowl quarterback on Tuesday, according to ESPN’s Adam Schefter. The team later confirmed the move in a statement.
Carr, 31, will now be allowed to sign with a team of his choosing as soon as this week as a free agent.
The Raiders had until Tuesday at 4 p.m. ET—the NFL’s transaction deadline—to cut Carr in order to avoid paying him $40.4 million in guarantees. The four-time Pro Bowler would’ve been entitled to the hefty sum over the next two seasons as part of a three-year, $121.5 million extension he inked last April.
