Raiders QB Derek Carr will exercise the no-trade clause in his contract and is expected to be released, according to NFL Network's Ian Rapoport. The Raiders and Saints were seemingly close to agreeing to a trade that would send Carr to New Orleans, but he'll now have the chance to pick his new team. The Saints are still a strong candidate to sign Carr, but the Panthers, Jets and Titans are also possible landing spots. Stay tuned.

QB Derek Carr and the Saints are working out a contract that could be done as soon as Monday afternoon, according to multiple reports. It's not a surprising turn for Carr, who had "lengthy" visit to New Orleans a month ago. His arrival will be good news for Saints second-year WR Chris Olave, who finished his rookie season 10th in yards per route run among all WRs with 30+ targets. WR Rashid Shaheed was among the nine players ahead of him (on far fewer targets), so that pair presents some big-play upside for Carr's stat line. That said, we can't upgrade the QB for leaving Davante Adams and Darren Waller. So the best hopes for Carr's ADP and fantasy football outlook are: 1) The Saints add more talent on offense; and 2) fantasy drafters don't boost him much from his current QB20 position. We'll see what else a cap-strapped New Orleans roster can add. And we'll see who teams such as the Jets and Panthers turn to at QB (after also courting Carr). WR Michael Thomas remains under contract with New Orleans as well. But he looks like a cut candidate that could help with the cap issues. Don't assume too strongly for now that he opens the year with the Saints.

Update: NFL Network's Ian Rapoport reports that Carr agreed to a four-year, $150 million deal, with $100 million in "total guarantees."

The Raiders officially released QB Derek Carr. Keeping him on the roster beyond 4 pm ET on Tuesday would have guaranteed Carr $40 million in 2023. Vegas was reportedly close to agreeing to a trade that would have sent Carr to New Orleans, but the QB opted to exercise his no-trade clause. He's now free to sign wherever he wants, with the Saints, Jets, Panthers and Titans considered his most likely suitors. Carr's efficiency and production sunk under HC Josh McDaniels last year -- and he ranked just 23rd among 31 qualifiers in Pro Football Focus' passing grades. He turns 32 in March. We'll keep you updated on the Carr Sweepstakes. Vegas, meanwhile, is left with "Chase Garbers" as the only QB on the active roster. They'll obviously be active in the QB market over the next few months.

NFL Network's Tom Pelissero reports that the Raiders and Saints have "the framework of a Derek Carr trade in place," which was apparently a condition in Vegas allowing the QB to visit the team. Carr possesses a no-trade clause, which likely means the deal depends on his preference after a "lengthy" visit. New Orleans would be a solid landing spot for the veteran QB, with a clear need at QB. We'd bet that such a trade would mean the end of Jameis Winston's time with the Saints. If you're drafting best-ball teams right now, then you can cheaply stack Carr with WR Chris Olave or RB Alvin Kamara -- who can be had as late as Round 5 or 6 in early fantasy football drafts.

The Raiders are officially looking into trading QB Derek Carr, according to NFL Network's Ian Rapoport. Making the process even more official is a public goodbye letter the QB wrote to Raiders fans. This has been the obvious path since the team benched Carr in favor of QB Jarrett Stidham for the final 2 games. Rapoport says there's a "firm deadline of Feb. 15" to work something out. That's when Carr's $40.4 million salary for each of the next 2 seasons would become fully guaranteed. In a QB-hungry league, this motivated seller should be able to work something out. Carr does possess a no-trade clause, giving him power to choose the destination. We'll see how the whole situation plays out and who starts at QB for the 2023 Raiders (Tom Brady?).

The Raiders are expected to explore trade options for QB Derek Carr this offseason, according to NFL Network's Ian Rapoport. Rapoport adds that there are "scenarios" in which Carr remains with Vegas but believes he'll "almost certainly" be playing elsewhere in 2023. Carr's $32.9 million base salary for 2023 becomes fully guaranteed 3 days after the Super Bowl, so a move figures to happen by then. Carr never looked comfortable in HC Josh McDaniels' offense this season. His 60.8% completion rate is his worst since his 2014 rookie campaign; his 7.0 yards per attempt his worst since 2017. Carr turns 32 in March.