OAKLAND—With a value of $125 million, his five-year contract extension makes Raiders QB Derek Carr the richest player in NFL history.

The 26 year-old, a second-round draft pick in 2014, announced via Twitter on Thursday, June 22 that he finalized the deal with Oakland. It will remain active through the 2022 season, two years after the Raiders’ pending move to Las Vegas. Carr’s previously made and currently active rookie deal is set to expire after this year, during which he is due just under $1 million.

The NFL disclosed that Carr’s contract entails a $12.5 million signing bonus along with $40 million fully guaranteed and $70 million in total guarantees at signing. He will receive $69 million within the first three years.

In three seasons with Oakland, Carr has thrown for 11,194 yards, 81 touchdowns and 31 interceptions. Prior to breaking his fibula in a Christmas Eve match against the Indianapolis Colts last season, he was one of the leading MVP candidates. That season, Carr threw for 3,937 yards and 28 touchdowns with six interceptions. He also reached a career-peaking save percentage at 63.8.

With a $25 million per-year average salary, Carr has surpassed Indianapolis Colts QB Andrew Luck as the highest-paid NFL player in history. Luck, after agreeing to a $140 million contract last offseason, is to be paid a fraction above $24 million per-year.