The Las Vegas Raiders have informed quarterback Derek Carr that he will be released today according to ESPN’s Adam Schefter.

Raiders officially informed QB Derek Carr that he has been released, per source. Team released him before $40.4 million in his contract became guaranteed today.

Carr is now a free agent and is expected to draw interest from the Saints and Panthers, amongst others. pic.twitter.com/X2v6pDecqP

— Adam Schefter (@AdamSchefter) February 14, 2023

The veteran quarterback would have been guaranteed $40.2 million if he wasn’t cut by Tuesday. Las Vegas freed up $29.25 million in cap space with the move.

According to NFL Network’s Ian Rapoport, the 31-year-old Pro Bowler going to have a lot of suitors when he hits the market.

The #Raiders release of QB Derek Carr is now official, and he’ll appear on the transaction wire today. He’s now a free agent and able to talk to teams before the league year begins.

— Ian Rapoport (@RapSheet) February 14, 2023

“He will not get the guaranteed money. He will get to be a free agent and someone else is going to give him a lot of guaranteed money, so a little bit of a trade off there. Derek Carr expected to be one of the most coveted free agents out there,” Rapoport said. “I would not expect a quick free agency. I would expect multiple visits and I would also keep in mind that the Saints really liked him and there’s some mutual interest there.”

It’s not an overwhelming class of free agent quarterbacks expected to be on the move. Baker Mayfield, Jimmy Garoppolo, Jacoby Brissett, and now Carr will get a head start on all of them by almost a month.

Other landing spots for Carr beyond New Orleans, however, could be Carolina or Washington. Both teams are seeking a long-term answer at quarterback but not picking at the top of the 2023 NFL Draft.

It’ll be fascinating to see what Josh McDaniels has in mind for the future. With the releasing of Carr, the Raiders will look to be in the market for a QB. With the Kansas City Chiefs coming off another Super Bowl victory, the Raideres do not seem to be favorites to win the AFC West according to Nevada sports-books.