Joe Burrow agrees to record-setting five-year, $275M extension with Bengals
Joe Burrow has a become the latest star player in the NFL to sign a new blockbuster new contract, after signing to a five-year extension worth $275 million, and $219 million guaranteed, with the Cincinnati Bengals.
It means that Burrow is the newly highest-paid quarterback in NFL history, taking over from Justin Herbert who signed his record deal in July. Patrick Mahomes has the record of most total money on a deal, as he signed a 10-year contract worth $450 million with the Chiefs in 2019. But the reigning MVP has now dropped to just the ninth highest in terms of annual salary.
For Burrow, he’s ready to take another leap after back-to-back outstanding years. He suffered a scary-looking non-contact calf injury in training camp over the summer, but all signs point to him being a go for Cincinnati in their Week One clash gainst their AFC North rivals the Cleveland Browns.
Burrow, 26, was the first overall pick in the 2020 NFL Draft after winning the national championship at LSU.
How does the deal impact the Bengals?
This deal guarantees Burrow as the franchise quarterback for the Bengals for the foreseeable future, and cements his status as one of the best players in the league.
But this could have implications for the rest of the team’s roster, particularly given Cincinnati’s other priorities in tying down their young, promising roster for the long-term.
Burrow’s contract will impact Cincinnati’s ability to not only sign future free agents but keep existing stars. Wide receiver Ja’Marr Chase, who was the NFL’s Offensive Rookie of the Year in 2021, has been prolific in his first two NFL seasons, and, when his time comes, is expected to demand a contract that would make him too one of the best paid players in the league. Tee Higgins and linebacker Logan Wilson, Cincinnati’s other notable draft picks from the 2020 draft class, will also be eligible for extensions.
With Chase and Higgins in particular producing at high levels, they will command lucrative salaries that were always going to make budgeting a challenge, even before Burrow’s new deal, which could lead to interest for elsewhere.
Trading star players to accommodate for the salary of a quarterback isn’t a new phenomena. In 2022, the Kansas City Chiefs traded wideout Tyreek Hill to the Miami Dolphins for five draft picks, including a first- and second-round selection. Hill then signed a $120 million contract with Miami, with an average of $30 million annually to become the highest paid receiver in the NFL.
A similar scenario is a possibility for Cincinnati, but for now, the band is sticking around for 2023. And all signs point towards the Bengals making another deep run towards the Super Bowl once again.
