The Raiders just (smartly) spent $16 million on a punter
Marquette King just received a five-year deal from the Raiders.

The Oakland Raiders already have their quarterback of the future in Derek Carr. They already have sack monster Khalil Mack. They already have their No. 1 wideout in Amari Cooper. And on Monday, the Raiders made sure their franchise punter won't be leaving town.
The Raiders announced Monday that they signed Marquette King to a long-term contract. CBS Sports NFL Insider Jason La Canfora provided the financial details and terms of the contract.
Raiders avoid using a tag on P Marquette King, sign him to a 5-yr, $16M deal worth $10.75m over the first 3 years. No brainer for them...
— Jason La Canfora (@JasonLaCanfora) February 29, 2016
He is a very good, young, athletic punter and the Raiders have cap space to burn. He wasn't going to get away
— Jason La Canfora (@JasonLaCanfora) February 29, 2016
You might've laughed at the idea of the Raiders spending $16 million on a punter, but as La Canfora alluded to, it's a smart deal for the team.
For starters, King is among the league's best. In 2015, King finished with the second-most punts (40) downed inside the 20-yard line. And, he's still only 27 years old, which means the Raiders shouldn't expect a significant dropoff in his numbers in the years to come. Furthermore, now that the Raiders are seemingly on the cusp of real success thanks to their young, developing core, they can't afford to overlook special teams.

Plus, we all know how much the Raiders love continuity on special teams. Sebastian Janikowski has kicked for the Raiders since 2000.
Some punting highlights, if you're into that sort of thing, are embedded below:
"That was a Ray Guy-type punt!"
— OAKLAND RAIDERS (@RAIDERS) February 29, 2016
Marquette King had an impressive season:https://t.co/Gtvq7LiyuC
Unfortunately for King, his teammates didn't miss the news. And that means dinner is on him.
Congrats bro! @MarquetteKing ! Take me out to eat already :)
— Derek Carr (@derekcarrqb) February 29, 2016