The five-year, $260 million extension that Baltimore Ravens quarterback Lamar Jackson signed in May set an NFL contract record with an average annual value of $52 million, but his reign didn’t last long. First there was Los Angeles Chargers rising star Justin Herbert, whose five-year, $262.5 million extension two months later edged him out with an annual average of $52.5 million. Then came Bengals quarterback Joe Burrow with a five-year, $275 million deal agreed to last week, three days before Cincinnati’s season opener—a new all-time-high average of $55 million a year.
At least for 2023, however, Jackson remains on top. With much of the value of Herbert’s and Burrow’s contracts bound up in option bonuses that kick in over the next year or two, the 26-year-old Jackson is the NFL’s highest-paid player this season, collecting $80 million in salary and bonus plus an estimated $1.5 million from endorsements, licensing, appearances, memorabilia and other business ventures. His $81.5 million total puts him more than $20 million ahead of Kansas City Chiefs quarterback Patrick Mahomes, who lands at No. 2 with $60.5 million. (Burrow is seventh this year, with a total of $45 million including endorsements, while Herbert falls outside the top ten, making $17.1 million on the field in 2023.)
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