The Las Vegas Raiders and their quarterback (QB) Derek Carr have reached an agreement over a three-year, $121.5 million contract extension that includes a no-trade clause, according to ESPN.

Carr still has one year left of his current five-year, $125 million deal. He will stay with the Raiders until 2025 with the new contract in place and make $100 million in the coming three years.

"I told my agent, 'I'm either going to be a Raider, or I'm going to be playing golf. I don't want to play anywhere else," Carr said on Wednesday. "That's how much this place means to me."

"Derek Carr has been the leader of this franchise for a long time and we are thrilled to continue that relationship moving forward," Raiders head coach Josh McDaniels said in a team statement. "He has been a great example of someone who always puts the team first and we appreciate his desire to keep doing that while leading on and off the field. It is clear how much Derek cares about this organization, his teammates and winning. I look forward to the opportunity to work with him this season and beyond."

The Raiders were 10-7, ranked second in the American Football Conference (AFC) West and lost to the Cincinnati Bengals 26-19 in the Wild Card Game. In his eighth season with the Raiders, Carr passed 428-for-626 to get a career-high 4,804 yards and 23 touchdowns (TDs) with 14 interceptions.

Considering the poor receiving choices the Raiders had and the dramatic resignation of coach Dave Ziegler last season, Carr should not be the first to be held responsible for the team's failure to make the playoffs. General manager Dave Ziegler knows it too and thus has been busy during the off season to improve their squad.

The Raiders traded for 2020 receiving yards leader Davante Adams with the Green Bay Packers and then gave him with a five-year, $141.25 million contract. The Raiders also acquired defensive end Chandler Jones with a three-year, $52.5 million deal and kept elite defender Maxx Crosby with a four-year, $94 million contract extension.

Carr said, "I hope people can hear my heart on that – that I was dead serious when I [said] that. I had one year left on my contract; if it was one year, it was going to be one year. Thankfully it will be four more. Hopefully we can build on that, I can finish and just do what I set out to do nine years ago, and that was to win a championship."