JACKSONVILLE, Fla. – The Jaguars locked up Trevor Lawrence to a record-breaking contract extension on Thursday night, a $275 million deal that keeps the franchise quarterback in Jacksonville for the next five seasons.
The NFL Network and ESPN both reported the deal for Lawrence. According to Ian Rapoport, Lawrence will receive $142 million in fully guaranteed money and the potential for those guarantees to eclipse $200 million.
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Both Lawrence and general manager Trent Baalke said that they hoped to have an extension in place soon. Baalke had been in conversations with Lawrence’s representatives much of the offseason as he became eligible for an extension this offseason.
The market for quarterbacks has exploded, with average market value for starters climbing into $40 million and more annually. Jacksonville had little choice on getting a deal done with its star quarterback this season or risk watching Lawrence’s number shoot higher north in 2024.
Lawrence’s deal averages $55 million a year, a number tied with Cincinnati’s Joe Burrow for the league’s most. Detroit’s Jared Goff ($53 million), Los Angeles’ Justin Herbert ($52.5 million), Baltimore’s Lamar Jackson ($52 million) and Philadelphia’s Jalen Hurts ($51 million) are also in the $50 million a season average club.
Only Burrow ($146,510,000) and Cleveland’s Deshaun Watson ($230 million) have more guaranteed money than Lawrence, according to Spotrac.
There was never a doubt that the Jaguars would lock Lawrence in. The No. 1 pick in the 2021 NFL draft has been up and down in his three seasons, but his potential remains off the charts. Lawrence is 20-30 as a starter in Jacksonville, although the first season came under Urban Meyer and his third came in an injured-marred campaign where he was sacked a career-high 35 times in 16 games.
Lawrence’s best season came in 2022 when he led Jacksonville to a 9-8 record and a surge in the second half of the season to win the AFC South title. The Jaguars beat the Chargers 31-30 in the AFC wildcard round before losing to Kansas City.
Lawrence, 24, is the unquestioned franchise leader, the first such player at quarterback since Mark Brunell. He’s passed for 58 touchdowns and thrown 39 interceptions in his three seasons and thrown for 11,770 yards in his career. His issue has been holding onto the ball.
Lawrence has created turnovers at a clip that’s not sustainable. In his first three seasons, Lawrence committed 60 giveaways. According to ESPN, only 11 quarterbacks who have made their debut since 1978 have committed more turnovers than Lawrence. That number includes players like John Elway (61) and Peyton Manning (64), but also the likes of Blake Bortles (Jaguars) and Mark Sanchez (Jets), both of whom had 63 giveaways.
With Lawrence in the fold long term, the Jaguars have now handed out more than $200 million in guaranteed money to its offensive and defensive cornerstones. Jacksonville signed edge rusher Josh Allen to a five-year, $141.25 million deal, with $88 million in guarantees. Baalke now has to turn his attention to the expiring deals of cornerback Tyson Campbell and safety Andre Cisco, both of whom are in the final year of their contracts. The team also picked up the fifth-year option on running back Travis Etienne, which means that his contract is fully guaranteed next season.