Former Bulldog Derek Carr released by the Las Vegas Raiders

FRESNO, Calif. (KFSN) -- The Las Vegas Raiders have released Derek Carr, making him one of the NFL's top free agents.

The decision is a cost-saving move for the Raiders as Carr was expected to earn more than $40 million of his contract before 1 p.m. PST.

NFL Media reported Sunday that Carr told the Raiders he would not accept any trade.

He now becomes one of the NFL's top free agents this offseason. He is also allowed to sign with any team immediately

The Raiders will take a salary cap hit of $5.6 million and free up $29.3 million for the 2023-2024 season.

Carr was drafted by the Raiders in the second round of the 2014 draft at No. 36, the fourth quarterback to be drafted that year.

He led the Raiders to two playoff appearances in his tenure: in 2021 and 2016. Both ended in losses in the Wild Card round.

This past season, he and Davante Adams were reunited in Las Vegas from their Bulldog days. The season was ultimately a disappointment, though, as the Raiders finished 6-11 and failed to reach the playoffs.

His final career record as a Raider was 63-79.

The video above is from an earlier story and will be updated.