Justin Herbert, Chargers agree to $262 million extension that places him among highest-paid QBs

The latest quarterback-contract domino has fallen.

According to Adam Schefter of ESPN, the Los Angeles Chargers and quarterback Justin Herbert have come to terms on a “landmark” contract extension. As reported by Schefter, the parties have agreed on a five-year, $262.5 million extension that keeps him in Los Angeles through the 2029 season.

Herbert is the latest young quarterback to reach agreement on a long-term extension this offseason. Lamar Jackson ended a long negotiation process with the Baltimore Ravens — after the team let him test the free agency waters — by coming to terms on a five year, $260 million contract. Under the terms of Jackson’s deal, $185 million of the contract is guaranteed, with $135 million fully guaranteed at signing.

Also this offseason, Jalen Hurts parlayed his MVP-level season, and Super Bowl appearance, into briefly becoming the highest-paid player in NFL history. Under the terms of his new contract with the Philadelphia Eagles, Hurts received a new five-year deal worth $255 million and potentially up to almost $275 million. The contract includes $179.304 million in guaranteed money, and a no-trade clause.

That is the first time in franchise history that Philadelphia has signed a player to a deal with a no-trade clause.

Under Herbert’s new deal, $133.7 million is fully guaranteed, and there is potential for $218.7 million to become fully guaranteed:

Herbert joins Hurts, Jackson, and Aaron Rodgers in an elite group.

The $50 million club:

Herbert led the Chargers to the playoffs last season, as Los Angeles finished with a 10-7 record. They raced out to a 27-point lead over the Jacksonville Jaguars late in the first half, but ultimately lost 31-30.

My dear friend J.P. Acosta had some things to say about that game.

Herbert finished the season having completed 66.6% of his passes for 4,336 yards and 31 touchdowns, against 10 interceptions. He put up those numbers while dealing with a rib cartilage fracture he suffered early in the season, along with a labrum injury in his non-throwing shoulder which required surgery in the offseason.

Expectations are high in Los Angeles that the Chargers can make another playoff run, and Herbert is a big reason why. Another reason? Incoming offensive coordinator Kellen Moore. Herbert’s arm talent is a big reason for his success so far in the NFL, as is his ability to push the ball downfield. In the 2021 season, for example, Herbert ranked third among qualified passers with an Adjusted Completion Percentage (ACP) of 51.6% on throws 20 yards or more downfield, according to Pro Football Focus charting data.

Last year while dealing with his bevy of injuries, Herbert still posted an ACP of 37.0 on those throws, good for 15th in the NFL.

However, those throws comprised just 9.8% of his throws last year, and 9.5% of his throws the year prior. Under former offensive coordinator Joe Lombardi, Herbert was operating a more horizontal-based attack.

Under Moore, it is expected that Herbert will be attacking downfield more, and with good reason.

With Herbert’s deal done, all eyes now shift to Cincinnati, where Joe Burrow is the next quarterback facing a new deal.

And likely to join Herbert and company in the $50 million club.