The Las Vegas Raiders entered free agency with a lot of money to spend and they did just that on their biggest need.

Earlier on Monday we figured out that Jarret Stidham would join Derek Carr in being the two 2022 quarterbacks that won't return to the Raiders for the 2023 season. Stidham signed with the Denver Broncos.

That left the Raiders in a spot to sign a quarterback, and they did just that.

The Las Vegas Raiders are giving former 49ers’ quarterback Jimmy Garoppolo a three-year, $67.5 million deal, including $34 million guaranteed, per Adam Schefter.

Comp update: Raiders are giving former 49ers’ QB Jimmy Garoppolo a three-year, $67.5 million deal, including $34 million guaranteed, per source.

— Adam Schefter (@AdamSchefter) March 13, 2023

The deal has $11.25 million in signing bonus, and $11.25 million roster bonus due the fifth day of the 2024 league year that becomes fully guaranteed five days after contract execution, per Doug Kyed of A to Z Sports.

Jimmy Garoppolo's three-year, $72.75M contract with Raiders:
$11.25M signing bonus
$45M total guaranteed
$11.25M roster bonus due the fifth day of the 2024 league year that becomes fully guaranteed five days after contract execution

Up to $1.5M in incentives each year@AtoZNFL

— Doug Kyed (@DougKyed) March 13, 2023

Here is how the dal breaks down annually:

2023 salary: $11.25 million

2024 salary: $11.25 million

2025 salary: $22.5 million

Annual per-game bonuses: up to $1.53 million

Annual workout bonus: $220 thousand

Annual incentives: up to $1.5 million

The Raiders got their quarterback.