The Los Angeles Chargers and quarterback Justin Herbert have reached a deal on a new contract that will keep the 25-year-old with the franchise through 2029.
The new five-year megadeal is worth $262.5 million, according to ESPN’s Adam Schefter, and makes Herbert the highest-paid quarterback in the league by average salary.
The 25-year-old QB’s average per year will sit at $52.5 million and in year one of the deal he will receive $100 million, according to NFL Network’s Ian Rapoport.
The deal comes with up to $218.7 million fully guaranteed, according to multiple reports.
Additionally, Herbert’s new deal includes a no-trade clause, according to Schefter.
The Chargers confirmed they had come to an agreement with Herbert on an extension, but did not provide any specifics about the deal.
The contract extension surpasses the ones Lamar Jackson signed with the Baltimore Ravens ($260 million) and Jalen Hurts ($255 million) signed with the Philadelphia Eagles earlier this year.
The two sides were able to agree on a contract less than 24 hours before the Chargers’ first practice of training camp.
Herbert had another year left on his rookie contract along with an option for the 2025 season.
He was slated to make $4.23 million in the fourth year of his rookie deal, according to ESPN.
The Chargers QB has thrown for 14,089 yards in his first three seasons with the Chargers and helped lead them to their first playoff appearance since 2018 last year.
However, the Chargers blew a 27-0 halftime lead in a wild-card round loss to the Jacksonville Jaguars.
Herbert has also thrown 94 touchdowns and only 35 interceptions during that span, while also reaching several NFL milestones.
His passing yards are the most by any QB through their first three NFL seasons and Herbert’s 1,316 career passes are also the most through a player’s first three seasons in league history.
The Chargers opened contract extension talks shortly after the season ended.
Head coach Brandon Staley had told reporters in June that talks had been ongoing, but he was optimistic.
“I’m hopeful, confident, but it’ll happen when it’s supposed to happen,” he said at the time, according to NBC Sports.
Now the Chargers will focus on getting back to the playoffs in consecutive seasons for the first time since they did so from 2006 to 2009.
Herbert will have a talented cast around him in order to accomplish the feat with the likes of Keenan Allen and Mike Williams to throw to.
He’ll also have first-round pick Quentin Johnston as a receiving option as well.