The Jacksonville Jaguars and quarterback Trevor Lawrence reached a deal on a massive five-year contract extension, per multiple reports Thursday.
Lawrence, the No. 1 overall pick from the 2021 NFL Draft, received a five-year deal worth $275 million. The deal reportedly includes $200 million guaranteed and $142 million guaranteed at signing.
NFL Network's Ian Rapoport was the first to report the deal.
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— Ian Rapoport (@RapSheet) June 13, 2024
The #Jaguars have reached a deal with their star QB Trevor Lawrence. Sources says they are giving the former No. 1 pick a 5-year extension worth $275M — $55M a year — with $200M guaranteed and $142M fully.
Lawrence’s agent Jay Courie of @mgcsports did the deal. 💰 pic.twitter.com/C3BaDgsjEV
The quarterback market has been booming over the last few offseasons, and Lawrence's team took advantage of it.
With an average annual value (AAV) of $55 million, Lawrence is the NFL's highest-paid quarterback alongside Cincinnati Bengals' Joe Burrow, who also signed a contract extension with $55 million AAV, just before the 2023 season.
After a shaky rookie season under former head coach Urban Meyer, Lawrence has bounced back nicely over his last two seasons. He earned a Pro Bowl nod in 2022 when he completed 66.3% of his passes for 4,113 yards, 25 touchdowns and eight interceptions.
He regressed a bit in 2023, this third year in the league, completing 65.6% of his passes for 4,016 yards, 21 touchdowns and 14 interceptions.
The Jaguars used the No. 21 pick in the 2024 NFL Draft on wide receiver Brian Thomas Jr., and now the two are linked for the entirety of the latter's rookie contract.
