The deal has been finalized that sends former Houston Texans quarterback Matt Schaub to the Raiders in exchange for this year's sixth round draft pick. In Schaub, the Raiders get the veteran quarterback they had been wanting.
The deal to send Schaub to Oakland was in motion Thursday night when the Texans signed free agent quarterback, Ryan Fitzpatrick. The last step was for Schaub to pass his physical which he did Friday and the deal was official.
The Raiders have made no bones about wanting to bring in a quarterback this off-season to compete with Matt McGloin for the starting job. Drafting one is an option and remains such, but Reggie McKenzie has said he would rather not have a rookie leading the team this season which made it clear a veteran addition was expected.
Schaub had a terrible season in 2014, throwing 14 interceptions to 10 touchdowns in just 8 starts. But in seasons prior, he was one of the better quarterbacks in the league with three 4000 yard passing seasons to his credit. The Raiders are banking on the 32-year-old passer returning to his previous form.
For most teams, Schaub's $10.93 million cap hit would be a problem. Not for the Raiders who were still $25 million under the salary cap and must still spend $21 million of that (leaving the expected $3.88 million on the books for the rookie wage pool). Schaub's contract puts a nice dent in that.