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Chargers, QB Justin Herbert agree to 5-year extension worth $262.5 million, AP source says

Justin Herbert is set to become the NFL’s highest-paid quarterback by annual salary, agreeing to a five-year, $262.5 million extension with the Los Angeles Chargers on Tuesday.

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Herbert’s total value and $52.5 million average per season surpasses the $260 million, five-year extension ($52 million average) Baltimore‘s Lamar Jackson signed three months ago. Herbert will get $218.7 million guaranteed, which is second to the fully guaranteed $230 million deal Deshaun Watson signed with Cleveland in 2022, a person close to the negotiations told The Associated Press.