Chargers and Justin Herbert Reach 5-Year, $262.5 Million Extension Agreement, Reveals AP Source

Justin Herbert agrees to record-breaking $262.5 million extension with Chargers.

In a groundbreaking move, Justin Herbert is poised to become the highest-paid quarterback in the NFL. The Los Angeles Chargers have agreed to a massive five-year contract extension with Herbert, worth a staggering $262.5 million. This deal surpasses the previous record set by Baltimore's Lamar Jackson just three months ago.

Herbert's contract includes a total value of $262.5 million, with an average annual salary of $52.5 million. This figure exceeds Jackson's $260 million extension, which had an average annual salary of $52 million. Additionally, Herbert will receive a guaranteed sum of $218.7 million, placing him second only to Deshaun Watson's fully guaranteed $230 million deal with Cleveland in 2022.

The agreement between Herbert and the Chargers was reached on the first day of training camp, setting the stage for an exciting season ahead. Herbert, who was drafted sixth overall in 2020, joins Philadelphia's Jalen Hurts as the second member of his draft class to secure a lucrative extension. Hurts recently signed a five-year deal worth $255 million.

This landmark contract for Herbert also has implications for other quarterbacks in the league. The Cincinnati Bengals and Joe Burrow, for example, now have a benchmark to consider in their ongoing negotiations. It's worth noting that Patrick Mahomes of the Kansas City Chiefs currently holds the largest overall quarterback contract, a 10-year deal worth $450 million.

Herbert's on-field performance has been nothing short of exceptional since entering the league. He has already made history as the first quarterback to begin his career with three consecutive seasons of at least 4,000 passing yards. Furthermore, he is one of just two players to throw 25 touchdown passes in each of his first three years. His impressive stats include 1,316 completions, 14,089 passing yards, and 102 touchdown passes.

Despite Herbert's individual success, the Chargers have yet to establish themselves as serious Super Bowl contenders. With Herbert under center, the team holds a record of 25-25, including playoff games. Last season, they made it to the postseason for the first time since 2018 but suffered a devastating loss to Jacksonville after blowing a 27-point lead in the first half.

Prior to this extension, Herbert was set to enter the final year of his rookie contract with a base salary of $4.2 million. However, the Chargers exercised their fifth-year option for 2024, which will pay him $29.5 million.

As the NFL landscape continues to evolve, Justin Herbert's record-breaking contract signifies a new era for quarterbacks in terms of both financial compensation and expectations for success on the field. Only time will tell if this investment pays off for the Chargers and solidifies Herbert's place among the league's elite signal-callers.

[Source: AP NFL]

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