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Chargers QB Justin Herbert signs five-year, $262.5 million contract extension, now NFL’s highest-paid QB

In a season of lucrative contract extensions for the league’s quarterbacks, it’s never been more valuable to have a star on a rookie deal.

Quarterback Justin Herbert #10 of the Los Angeles Chargers on a pass play during the AFC Wild Card Playoffs game against the Jacksonville Jaguars at TIAA Bank Field on January 14, 2023 in Jacksonville, Florida. The Jaguars defeated the Chargers 31 to 30. Photo by Don Juan Moore/Getty Images

LA Chargers QB Justin Herbert is officially the highest-paid player in the NFL, agreeing to a five-year, $262.5 million extension Tuesday, ESPN’s Adam Schefter reports. The deal comes just a day ahead of the team’s first training camp practice, set for Wednesday, July 26 and will keep him with the team through the 2029 NFL season.

Following extensions for QBs Lamar Jackson and Jalen Huts earlier this offseason, the 2020 NFL Offensive Rookie of the Year was among the last big names awaiting their lucrative deal. He has a 25-24 record as a starter, having thrown for 4,300 or more passing yards and 25 touchdowns in each of his three seasons in the league.

Herbert has played one career game against the Steelers, where he completed 30 pass attempts for 382 passing yards, three touchdowns, and an interception for a Chargers win, 41-37.

As Steelers QB Kenny Pickett enters his second season, it’s become increasingly clear that it will be crucial for the team to take advantage of the small rookie price tag. His four-year rookie deal is worth $14,067,905 million through the 2025 season, with a fifth-year option available for the team to pick up in 2026. Despite the discount at quarterback, the Pittsburgh Steelers rank 21st in the league with just under $12 million in cap space in the 2023 season and 23rd in projected cap space for 2024.

Are the Steelers missing an opportunity to invest in the offense while Kenny Pickett is on his rookie contract? Join the Behind The Steel Curtain community, and let us know your thoughts in the comments!