Justin Herbert is the new highest-paid player in NFL history, at least until Joe Burrow gets his contract.
For now, Herbert is the king. Here’s a look inside what he’ll be making under his new seven-year deal, per a source with knowledge of the terms.
1. Signing bonus: $16.121 million.
2. 2023 base salary: $1.01 million, fully guaranteed at signing.
3. 2024 option bonus: $50.606 million, fully guaranteed at signing.
4. 2024 base salary: $6 million, fully guaranteed at signing.
5. 2025 option bonus: $45 million, fully guaranteed at signing.
6. 2025 base salary: $15 million, fully guaranteed at signing.
7. 2026 base salary: $24 million, guaranteed for injury at signing and fully guaranteed as of 2025.
8. 2027 base salary: $36 million, guaranteed for injury at signing and fully guaranteed as of 2026.
9. 2028 offseason roster bonus: $5 million.
10. 2028 base salary: $47 million, $25 million of which becomes injury guaranteed as of 2026 and fully guaranteed as of 2027.
11. 2029 offseason roster bonus: $10 million.
12. 2029 base salary: $40.5 million.
The deal also includes $2.5 million in escalators; $1.25 million apply if he wins a conference championship game and the other $1.25 million will be triggered if he wins a Super Bowl.
The contract includes $133.738 million fully guaranteed at signing, and more than $193 million in injury guarantees at signing.
By 2025, more than $157 million will be fully guaranteed. All guarantees vest at least one year before they are paid.
The seven-year deal pays out $296.2 million, an average of $42.3 million per year. The new-money average is $52.5 million, a record.
The contract also includes a no-trade clause.
Will the deal become obsolete as the market continues to grow and the cap continues to expand? Probably. And if the Chargers want to keep Herbert happy, they’ll know when to fix the deal to reflect the ongoing changes to an ever-changing market.