Joe Burrow strikes $275 million extension contract with Cincinnati Bengals

The Cincinnati Bengals quarterback Joe Burrow has signed a five-year, $275 million extension contract, just as the 2023 NFL season is beginning, making him the highest-paid player in NFL history, according to multiple reports on Thursday.

Burrow, who was the first overall pick in the 2020 NFL draft out of Louisiana State University, had two years remaining on his rookie contract with the Bengals whom he led to the AFC Championship Game and Super Bowl.

The Bengals wanted to make sure he was under contract for a long time as they believe he can bring home a Lombardi Trophy, despite not winning a Super Bowl, NBC Sports reported.

Based on the new contract, the 26-year-old will be paid $55 million per year including $219.01 million guaranteed, according to ESPN

According to the sports compensation tracking website Spotrac, the $55 million yearly wage is more than the $52.5 million yearly average of Los Angeles Chargers quarterback Justin Herbert.

Burrow was asked about the possibility of signing an extension with the team while speaking to reporters on Wednesday.

“This is where I want to be my whole career,” Burrow said when asked about the possibility of signing an extension with the team while speaking to reporters on Wednesday. 

Burrow continued: “We’re working toward making that happen. You know you’ve seen what the front office has done, and what (coach) Zac (Taylor) has done in their time here.

“I’m a small part of that and I’m excited to be a part of that. We have great people in the locker room who grind every day, that are excited to go and showcase their talents and excited to do it in the city of Cincinnati. We have the best fans. This is where I want to be.”

Burrow, who is starting his fourth season in the league, struggled throughout his debut year due to left knee ACL and MCL tears.

Since then, he has aided in the Bengals' two consecutive AFC championship game trips in 2021 and 2022, as well as their journey to Super Bowl LVI, where they lost to the Los Angeles Rams, CNN reported.

Burrow threw for 4,475 yards, 35 touchdowns, and 12 interceptions while leading the Bengals to a 12-4 record in the previous year. Later, the Bengals would drop the AFC Championship game to the Kansas City Chiefs.

On Sunday, the Bengals will play their first regular-season game of 2023 on the road against their divisional rival Cleveland Browns.