Philadelphia Eagles quarterback Jalen Hurts is now the highest-paid player in NFL history after signing a five-year, $255 million extension with the defending NFC champions.
Hurts’ contract calls for $110 million guaranteed at signing and $179.3 million in total guarantees. He received a $23.29 million siging bonus and is set to be the face of the Eagles’ franchise moving forward.
None of this really should come as too much of a surprise. Eagles general manager Howie Roseman had made it clear following their Super Bowl loss to the Kansas City Chiefs that Hurts was going to cash in this offseason.
“It’s no secret that sometime relatively soon we want to extend our quarterback. Our whole kind of roster building is going to turn a little bit here from a quarterback on a rookie deal towards hopefully a quarterback on a long-term deal.”
Roseman on Jalen Hurts contract talks (March 27, 2023)
Roughly three weeks later, and Hurts landed a record-breaking contract. Said move sets Philadelphia up for continued contention in the NFC. It also had a trickle-down effect. Let’s look at four league-wide takeaways from this big NFL news.
Related: Jalen Hurts and the NFL’s highest-paid QBs of 2023
Lamar Jackson is a big loser after Jalen Hurts inks extension
Mired in a contract stalemate with the Baltimore Ravens and “holding out” of the start of the offseason program, this former NFL MVP has taken to the public to air his issues and request a trade. It really has been a back-and-forth between Jackson and Baltimore over the past calendar year. That was taken to a whole new level when the Ravens placed the dreaded franchise tag on their quarterback, a value that is set at just $32.42 million next season.
Jackson and his camp has pushed back on the belief that he wants a fully-guaranteed contract, similar to what Deshaun Watson is playing under with the Cleveland Browns. However, reports indicate that he’s looking for $230 million in guarantees. Given what Jalen Hurts received from Philadelphia, this is looking increasingly less likely. Jackson might have overplayed his hand.
Related: Sportnaut’s 2023 NFL mock draft
Quarterback talent outside of the first round of the NFL Draft
Jalen Hurts (second round), Dak Prescott (fourth round), Kirk Cousins (fourth round), Tom Brady (sixth round), Brock Purdy (seventh round) and Geno Smith (second round) are all non first-round picks who led their teams to the NFL Playoffs a season ago. That represents nearly half of the 14-team playoff field.
What is the moral of the story? First off, some teams around the NFL believe that it makes sense to swing for a quarterback at some point during the NFL Draft on an annual basis, whether it’s a Day 2 seletion or late-round pick.
Secondly, it pays for these teams to do their homework on quarterbacks projected to go outside of the first round. That’s no more true than leading up to the 2023 NFL Draft. Tanner McKee (Stanford), Aidan O’Connell (Purdue), Jake Haener (Fresno State) and Jaren Hall (BYU) could all be seen as sleeper prospects.
Related: Jalen Hurts and the NFL’s top quarterbacks of 2023
Philadelphia Eagles commitment to Jalen Hurts is real
Hurts’ contract is not going to be structured in a manner that enables Philadelphia to get out from under it in short order. That’s a far cry from contracts we saw other quarterbacks sign earlier in the offseason.
For their part, the Eagles were an open book when it came to their intentions even before February’s Super Bowl appearance. It wasn’t a well-kept secret.
“I expect the Eagles to work to sign quarterback Jalen Hurts to an extension early in the offseason. They know the price has likely gone to $50 million a year or more,” ESPN’s Dan Graziano from back in February.
- Jalen Hurts stats: 62.3% completion, 7,906 passing yards, 1,898 rushing yards, 70 total TD, 19 INT
Set to enter his Age-25 season, the Eagles are building around Hurts. Their offense is centered around what he does well. Roseman and Co. have utilized a ton of capital to build up talent around him on offense. In short, Hurts will play out this entire five-year contract and then some.
NFL quarterback market complicated by Jalen Hurts contract
Outside of Philadelphia committing to Hurts, it’s pretty clear that this contract resets the NFL quarterback market.
Fellow stud young signal callers in that of Los Angeles Chargers’ Justin Herbert and Joe Burrow of the Cincinnati Bengals joined Hurts in being eligible for extensions for the first time this offseason. Both deals should still get done. Though, things are a bit more complicated.
It’s being projected that Burrow could land north of $53 million annually with $185 million in guarantees once he inks a new deal with the Bengals. Hurts’ average salary and guarantee total might now elevate Burrow’s asking price.
These are risks teams take when it comes to letting the market play out rather than resetting it themselves. Philadelphia jumped on the idea of giving Hurts a record-breaking contract. In the process, it might have save some cash down the road. The same thing can’t be said for either the Bengals or Chargers.
This might also be something the Jacksonville Jaguars want to take into account once the 2024 NFL offseason comes calling and former No. 1 pick Trevor Lawrence is eligible for an extension. Be proactive, not reactionary.
On another note, two-time NFL and Super Bowl MVP Patrick Mahomes is now the sixth highest-paid quarterback in the NFL. The Kansas City Chiefs star inked his 10-year, $450 million contract back in 2020. We fully expect him to reset the market ahead of training camp, earning north of $60 million annually on an extension.
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