Oakland Raiders' Derek Carr closing in on NFL's most expensive contract

June 21 (UPI) -- Early reports saying Derek Carr could command $25 million a year from the Oakland Raiders are nearly reality, according to NFL sources.

The Raiders quarterback has been negotiating a contract extension with the team this offseason. NFL Network reported earlier this month that the deal could approach that number. Carr is currently set to make about $977,000 this season. That could elevate to $1.7 million with bonuses.

League sources told ESPN Wednesday that the Raiders and Carr are "close to finalizing" the pricy pact, but Carr updated fans on Twitter.

The 26-year-old made his second consecutive Pro Bowl last season while completing a career-high 63.8 percent of his passes for 3,937 yards, 28 touchdowns and six interceptions. He posted a 12-3 record as a starter, before breaking his leg in Week 16.

"Nothing done yet...trust me you will hear it here first," he tweeted.

Carr said he would not talk about an extension once Raiders training camp begins in late July.

Indianapolis Colts gunslinger Andrew Luck is currently the highest-paid quarterback in the NFL, with an average salary of $24.5 million.

Carr is currently making less money than all of his AFC West counterparts, including: Paxton Lynch, Alex Smith, Patrick Mahomes and Philip Rivers.

Carr was ranked the No. 11 player in the league recently on the NFL Network's Top 100 Players list.

Last week at minicamp, Carr told reporters that he wants the Raiders to be a "well-oiled machine."

"Not the silly penalties, not the silly like lining up wrong," Carr said, via Raiders.com.

"Making sure we're in the right formation. Making sure like route depths are on point. Everything that we've been working on and the coaches have been teaching, let's not go out there and just throw a goose egg. Let's not go out there and, 'Oh, no it's this formation. Come back over here.' When you break the huddle, it should look clean. We don't want to break the huddle having guys go here and here and I have to kind of play a game like this, 'Hey, you've got this.' Drawing routes on my hand. That's the thing is when we go out there, you want to just look like a well-oiled machine."

The new deal could set the market for other quarterbacks looking for new contracts, including Washington Redskins star Kirk Cousins. Ten-time Pro Bowl selection Drew Brees is also playing on the final year of his contract for the New Orleans Saints.