Ian Rapoport of NFL Media reports that the Chargers and QB Justin Herbert have agreed to terms on a blockbuster five-year extension worth $262.5 million.
This contract makes Herbert the highest-paid quarterback in NFL history in terms of new money average annual value at $52.5 million per season. It also includes $218 million in total guarantees and some incentives that could push the deal up to $265 million.
Herbert receives a no-trade clause as part of the agreement with the Chargers.
Some thought Herbert could wait until Joe Burrow signs a new deal with the Bengals before negotiating off of that. However, this contract is a needle-mover worth taking.
Herbert, 24, was taken with the No. 6 overall pick in the 2020 NFL draft by the Chargers. He signed a four-year, $26,578,754 rookie contract that includes a $16,890,003 signing bonus and earned a base salary of $3,026,250 this season.
The Chargers picked Herbert’s fifth-year option for the 2024 season.
In 2022, Herbert appeared in 17 games for the Chargers, completing 68.2 percent of his passes for 4,739 yards, 25 touchdowns, and 10 interceptions.
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