The Chargers and quarterback Justin Herbert have agreed to a long-awaited blockbuster contract extension totaling a whopping $262.5 million over 5 years, making Herbert the highest-paid player in NFL history and locking him through 2029.
The multi-year contract includes $218 million guaranteed: $133.7 million of this number is fully guaranteed and $193.7 million is the injury guarantee. Over the full term, Herbert could potentially make $218.7 million. This guaranteed number is only less than one other player in the league – Deshaun Watson who makes $230 guaranteed – and surpasses Lamar Jackson’s guaranteed number by $30 million.
In Year 1, Herbert gets $100 million, topping the previous high of $80 million. Herbert’s contract averages an annual value of $52.5 million per season. He is now the third quarterback in 2023 to slide into the No. 1 spot for the highest-paid quarterback in history. Herbert has thrown for 14,089 yards and 94 touchdowns and touts an impressive 96.2 passer rating through his first three seasons.
Not only this but his $3,224,375 fifth day of training camp roster bonus will most likely be converted into a signing bonus since it has yet to be earned.
With Herbert locked in on a multi-year deal, the Chargers are looking at a very bright future ahead of them.
