The Los Angeles Chargers have signed star quarterback Justin Herbert to a massive five-year, $262.5 million contract extension, NFL Network’s Ian Rapoport and Mike Garafolo reported on Tuesday.
Herbert becomes the highest-paid quarterback in the NFL by average annual value ($52.5 million), surpassing Baltimore Ravens quarterback Lamar Jackson ($52 million).
🚨 🚨 🚨
The #Chargers and star QB Justin Herbert have agreed to terms on a blockbuster 5-year extension worth $262.5M, per me and @MikeGarafolo, including monster guarantees to protect Herbert and lock him in for the future.
💰 💰 💰 pic.twitter.com/iMyKEkYLke— Ian Rapoport (@RapSheet) July 25, 2023
Los Angeles Chargers Lock Up Justin Herbert
Herbert had two years remaining on his rookie contract, which would pay him $8.5 million this season and $29.5 million in 2024 on a fifth-year option.
However, the extension ensures Herbert is under contract with the Chargers through the 2029 season.
Herbert joins Baltimore’s Jackson and Philadelphia’s Jalen Hurts as quarterbacks who signed blockbuster extensions this offseason. Cincinnati Bengals quarterback Joe Burrow is eligible for an extension and should be in the price range of these three quarterbacks.
Justin Herbert Is One Of NFL’s Best Quarterbacks
Drafted out of Oregon with the No. 6 pick in the 2020 NFL Draft, Herbert has quickly risen to the top 10 in quarterback rankings.
With a rocket arm and above-average athleticism, Herbert has thrived in Los Angeles since becoming the starter in Week 2 of the 2022 season.
In three seasons, Herbert has thrown for 14,089 yards and 94 touchdowns with only 35 interceptions.
Herbert made the playoffs for the first time last season. However, the Chargers blew a 27–0 lead to the Jacksonville Jaguars, ultimately losing 31-30.
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