Justin Herbert will remain a Los Angeles Charger for the long haul after he and the team agreed on a multi-year contract extension.
The new five-year extension is estimated to be around $262.5 million, according to ESPN.
The new deal makes Herbert the highest paid player in the league, eclipsing previous leaders, Baltimore Ravens quarterback Lamar Jackson and Eagles quarterback Jalen Hurts, who held onto the respective crowns for only a few weeks.
Herbert, 25, has appeared in 44 games for the Bolts since being drafted out of the University of Oregon with the No. 6 pick in the 2020 NFL Draft. He was named the NFL’s Offensive Rookie of the Year, Pro Bowl starter for the AFC squad in 2022, and is in sole possession of several franchise and league records.
Herbert led the Chargers back to the NFL Playoffs last season for the first time since 2018.
ESPN reports that his new deal includes $133.7 million fully guaranteed with the potential to reach $218.7 million guaranteed.
This latest “resetting” of the quarterback market comes as the next generation of high-profile quarterbacks become eligible for new contracts. Hurts previously set the record for receiving the richest contract in NFL history, but was eclipsed weeks later by Jackson. Now, months later, the title belongs to Herbert.
Cincinnati Bengals quarterback Joe Burrow, who was selected with the No. 1 pick in the same draft as Herbert and led his team to its first Super Bowl appearance in more than 30 years, is also likely to receive a new deal in the near future.
Burrow’s deal is expected to surpass Herbert’s, making the title of “highest-paid player in the NFL” exchange hands once again.
