Raiders GM on a high after news of compensatory picks

Monday brought good news to the Oakland Raiders.

(No, Carson Palmer hasn't mystically reverted back to his pre-Kimo Von Oelhoffen form.)

It's a small bounty of much-needed draft picks, announced Monday by the NFL. The league awarded a total of 32 compensatory choices to 15 teams, with the Raiders picking up three quality choices.

The Browns, Packers and Jets all gained four picks, but the Raiders got the most bang for their buck. Oakland received a third-, fourth- and fifth-rounder. The Raiders were the only team to receive a third-round selection.

Raiders general manager Reggie McKenzie was pleasantly surprised by the news. Before Monday, Oakland had no picks before the fifth round.

"Let me tell you something. Whatever the formula is, I love this formula. I love it," McKenzie said during a conference call (via Bay Area News Group). "I thought I would possibly get a three, a high one for Nnamdi (Asomugha), and the others, obviously, this is better than what I expected."

Compensatory free agents are determined by a formula based on salary, playing time and postseason honors. The formula was developed by the NFL Management Council. Not every free agent lost or signed by a club is covered by this formula.

You can read the league's official press release for a full breakdown of each team. Pretty interesting stuff.