The Cincinnati Bengals have locked up their franchise quarterback, Joe Burrow, for the next five years, and it wasn't cheap.
The 26-year-old has agreed to a five-year contract extension worth $275 million, which includes $219.01 million in guaranteed money to stay in Cincinnati, according to NFL insider Adam Schefter of ESPN.
A record deal: Joe Burrow has reached agreement with the Bengals on an 5-year, $275 million extension that includes $219.01 million guaranteed and makes him the highest-paid player in NFL history, sources tell ESPN. pic.twitter.com/6GttDs7zk6
— Adam Schefter (@AdamSchefter) September 8, 2023
The new deal makes the 2022 Pro Bowl selection the highest-paid player in NFL history, earning an average annual value of $55 million over the next half-decade.
The deal ends months of negotiation between the two parties, which has been the subject of much speculation by fans and the media.
Burrow's new deal is the second largest contract in league history in terms of total overall value, next to Kansas City Chiefs QB Patrick Mahomes' 10-year, $503 million deal that he signed in 2020.
Read more: Bengals Star QB Joe Burrow Reveals Injury Update Ahead Of Week 1 Game Against The Browns
Joe Burrow wants to stay in Cincinnati for his whole NFL career
Burrow said on Wednesday, September 6, that he plans to stay with the franchise that drafted him for his whole career.
"This is where I want to be. This is where I want to be my whole career. We're working toward making that happen," the 2019 Heisman Trophy winner said yesterday regarding the speculated contract extension.
The Bengals selected Burrow with the first overall pick of the 2020 NFL Draft.
After an injury-plagued rookie year, Burrow reversed the fortunes of a franchise that saw a lack of success since their inception, leading the Bengals to a Super Bowl LVI appearance, where they came up short against the Los Angeles Rams.
Related Article: 49ers' Nick Bosa Becomes Highest-Paid Defensive Player in NFL History With Contract Extension
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