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Raiders quarterback Matt Schaub has been released, the team announced on Monday afternoon.

The transaction gives the Raiders $5.5 million in salary cap space. Without dead money involved and second-year signal caller Derek Carr firmly entrenched as the starter, Schaub’s release has been expected for some time.

While Schaub didn’t have a roster bonus to press the issue, Friday’s signing of quarterback Christian Ponder foreshadowed Monday’s move.

[RELATED: Raiders sign QB Christian Ponder]

It also purges another quarterback mistake from the roster. McKenzie traded a sixth-round pick to the Houston Texans for Schaub’s rights a year after he fell apart on a national stage. He was plagued by interceptions returned for a touchdown and a crisis of confidence.

Schaub reworked a massive contract to guarantee an $8 million salary last season, a price seemingly worthy of a player named the starter the day his was acquired. He lost that title with a lackluster preseason, during which he displayed a real lack of arm strength.

Carr took the starting job and ran with it. Schaub remained a good teammate and mentor for Carr, but he was not in the Raiders’ plans.

Schaub’s acquisition came a year after McKenzie traded for Matt Flynn, who received a hefty salary fro making one start and losing his job to Terrelle Pryor and Matt McGloin. The team also drafted Tyler Wilson in the fourth-round, only to cut him in September and lose him on waivers later in the year.

The Raiders believe they’ve hit pay dirt with Carr, who they consider the franchise quarterback of the future.