Report: Chargers, Justin Herbert Agree to Record-Breaking Extension

The fourth-year quarterback becomes the second-highest paid player in the NFL.

The Chargers and quarterback Justin Herbert have agreed to a five-year, $262.5 million extension through the 2029 season, ESPN’s Adam Schefter reports. In the deal, Herbert could get $218.7 million guaranteed and $133.7 million fully guaranteed.

The deal makes Herbert the highest-paid quarterback by average annual value and second-highest by total value, trailing only Chiefs quarterback Patrick Mahomes.

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Herbert’s contract is worth just $2.5 million more in total than the deal Lamar Jackson signed with the Ravens earlier in the offseason and is the third contract to break the AAV record this year, joining Jackson’s and Jalen Hurts’s deals.

In his career, Herbert has thrown for 14,089 yards, the most ever by a player in his first three seasons, with 95 touchdowns, the second most this early in his career behind only Dan Marino. He also has a Pro Bowl appearance and the 2020 Offensive Rookie of the Year award to his name.

Herbert is the second quarterback drafted in 2020 to get a massive extension, joining Hurts who signed long term with the Eagles in April. With Herbert signed, Bengals quarterback Joe Burrow becomes the next big-name quarterback due for a new deal.