According to insiders, Joe Burrow has agreed to a deal with the Bengals worth $55 million per year.
Cincinnati Bengals quarterback Joe Burrow became the highest-paid player in the NFL on Thursday, agreeing to a five-year, $275 million contract extension, according to a source familiar with the situation.
The pact guarantees more than $219 million, according to an Associated Press source.
Burrow’s contract, worth an average of $55 million per year, puts him ahead of other elite quarterbacks in the league who signed new deals this summer.
Burrow, who is beloved by teammates and fans in Cincinnati, has turned the franchise’s fortunes around while developing a reputation as a determined and creative leader with a penchant for figuring out how to get yards when plays break down.
Signing the 2022 Pro Bowler and 2021 AP NFL Comeback Player of the Year to an extension was a team goal this summer, but the deal was not consummated until three days before the Bengals’ season opener against Cleveland.
“This is where I want to be my whole career,” Burrow told reporters on Wednesday. “You’ve seen what the front office and [Bengals head coach] Zac [Taylor] have done during their tenure here. I am a small part of that. I’m thrilled to be a part of that. And we have wonderful people in the locker room who work hard every day and are excited to go out and display their talents in Cincinnati.”
Burrow has led the Bengals to two consecutive AFC North championships and a Super Bowl appearance following the 2021 season, a 23-20 loss to the Rams. Last year, Cincinnati went 12-4, with Burrow setting franchise single-season records for completions, throw attempts, and passing touchdowns.
Burrow underwent season-ending knee surgery in 2020, his rookie season. After returning, he quickly established himself as one of the NFL’s top passers. The traditionally frugal Bengals have not won a Super Bowl since 1998, or even a playoff game since 1990.
Burrow hurt a calf muscle early in this summer’s training camp, keeping him out of action until last week. He revealed on Wednesday that he expects to start against the Browns on Sunday.
Burrow’s quarterback market was set in late July, when Los Angeles Chargers quarterback Justin Herbert signed a five-year, $262.5 million contract extension.
Herbert’s total value and $52.5 million average per season outperformed the $260 million, five-year agreement ($52 million average) signed by Baltimore’s Lamar Jackson in April. Deshaun Watson has signed a fully guaranteed $230 million contract with Cleveland in 2022. Patrick Mahomes of the Kansas City Chiefs is in the third year of a 10-year contract for $450 million, the highest overall deal for a quarterback.
Cincinnati exercised the fifth-year option on the 26-year-old Burrow’s rookie contract in April, ahead of the expected agreement, which was not reached as swiftly as both sides had hoped.
Bengals owner Burrow stated a year ago that the team has began restructuring its finances in order to obtain a long-term contract for Burrow. Running back Joe Mixon took a modified contract and pay cut this month, giving the Bengals extra salary cap flexibility.
With Burrow locked up, the Bengals can focus on other players, notably wide receiver Tee Higgins, who is also eligible for an extension. Last month, linebacker Logan Wilson signed to a four-year agreement for up to $37.25 million.
Ja’Marr Chase, a star receiver, will be available for an extension following this season. Higgins and Chase will both fetch contracts that rank among the league’s highest-paid receivers.
