Report: Joe Burrow, Bengals Agree to NFL-Record 5-Year, $275M Contract Extension
September 8, 2023
Cincinnati Bengals fans can breathe easy after the team agreed to a five-year, $275 million contract extension, according to NFL Insider Jordan Schultz.
It is the highest average annual value in NFL history.
Cincinnati had already triggered his $29.5 million option for the 2024 NFL season, which extended the window the two sides had to hammer out a multiyear deal.
"The team indicated this is a mechanical step along the way and it will continue working with Burrow and his representatives to work toward securing his long-term future as a Bengal," the team said in its announcement.
Ahead of the 2023 NFL draft, director of player personnel Duke Tobin told reporters negotiations with the quarterback and others were ongoing.
"You can't predict when and if they'll get done," he said. "We're working to try to have as many good players on our football team as we can and try to keep them as long as we can—the ones that are producing and really fit well here. We're trying like heck to get those guys extended, renegotiated."
Still, some Bengals fans might have been getting antsy as the regular season approached with nothing concrete in writing.
The Philadelphia Eagles wasted little time in handing Jalen Hurts a record-setting five-year, $255 million extension that made him the highest-paid player in NFL history. Lamar Jackson responded by getting a slightly bigger contract ($260 million) to secure his return to the Baltimore Ravens.
That helped to set the market for Burrow and Justin Herbert, who eventually received $262.5 million total and $218.7 million guaranteed from the Los Angeles Chargers.
In general, there was a sense the Bengals were just prolonging the inevitable and had nothing to gain by dragging their feet. It was abundantly clear they had an elite QB on their hands.
Through three seasons, Burrow has thrown for 11,774 yards, 82 touchdowns and 31 interceptions. Cincinnati has also claimed an AFC title and won back-to-back division titles with him leading the offense.
Under former head coach Marvin Lewis, the Bengals attained a level of stability almost unparalleled in its history. But they still couldn't advance out of the AFC Wild Card Round, which represented a new form of futility.
Beyond what he has done on the field, Burrow has had a transformative impact on Cincinnati's image. This is now a team that enters every year with genuine, earned championship aspirations.
You can't overstate how catastrophic letting the 26-year-old walk or trading him before having to give him a pay raise could have been for the Bengals.
The fanbase has put up with a lot through the years. All of the losing. All the meddling and frugality by team owner Mike Brown. Star players making it clear they wanted to play anywhere but Cincinnati.
If the Bengals weren't going to pay a perennial Pro Bowler, one whose hometown is just over two hours away in Athens, Ohio, then it would have sent a fairly clear message: The Cincinnati Bengals are an unserious organization run by a man who puts his own principles ahead of what's best for the team, even when it had a clear window for contention.
That's the kind of thing that can be the final straw for some fans. Even a prestigious team like the Washington Commanders can see its followers turn away in droves due to prolonged mismanagement.
For the Bengals, there was no alternative when it came to Burrow's contract.