Highest Paid NFL Quarterback Contracts in Latest Data
The highest paid NFL quarterback contracts in current public records reflect massive guaranteed money and record average annual values. Patrick Mahomes signed a 10-year extension with the Kansas City Chiefs in July 2020 that includes over $450 million in total guarantees, making it the largest fully guaranteed contract in North American professional sports history. Jalen Hurts signed a five-year extension with the Philadelphia Eagles in March 2024 with a fully guaranteed $255 million and a $165 million signing bonus, setting a new benchmark for average annual value among quarterbacks with fully guaranteed deals. Josh Allen signed a six-year extension with the Buffalo Bills in April 2024 that carries a $258 million total value with $150 million guaranteed at signing. These contracts are publicly reported by ESPN and NFL team filings.
Joe Burrow signed a five-year, $275 million extension with the Cincinnati Bengals in March 2023 that includes $160 million guaranteed and an average annual value of $55 million. Dak Prescott signed a four-year, $240 million extension with the Dallas Cowboys in April 2021 with $160 million guaranteed and a $60 million average annual value. The contracts of Justin Herbert, Jared Goff, and Deshaun Watson also rank among the largest in total value, with Herbert's extension with the Los Angeles Chargers carrying a $340 million total value over five years. These figures are sourced from NFL contract databases and team salary cap filings.
Salary Cap Impact and Contract Structures for NFL Quarterbacks
NFL quarterback contracts use a mix of signing bonuses, roster bonuses, and guarantees that create large cap hits in early years. The salary cap for the 2024 NFL season is set at $255.4 million per team, and top quarterback contracts consume between 15% and 20% of that cap space in their first guaranteed years. Patrick Mahomes' cap hit is projected to exceed $50 million per year through the late 2020s, while Jalen Hurts' cap number is expected to rise sharply after his 2024 option year. These cap figures are reported by OverTheCap and Spotrac.
Most modern NFL quarterback contracts include void years, incentives, and restructured options that push cap charges into future seasons. The New York Giants restructured Daniel Jones' contract in March 2024 to create immediate cap space, converting base salary into a signing bonus. The Cleveland Browns added void years to Deshaun Watson's deal to lower the current cap hit while preserving future flexibility. Contract restructuring is a common tool used by NFL front offices to manage salary cap space while keeping franchise quarterbacks under contract.
Guarantees, Incentives, and Injury Protections in NFL QB Deals
Fully guaranteed money is the most important metric in NFL quarterback contracts because it protects the player even if the team releases or benches him. Patrick Mahomes' contract includes $450 million in fully guaranteed money across all years, while Jalen Hurts' extension guarantees $255 million through 2028. The average NFL quarterback contract now includes over $100 million in fully guaranteed money, a sharp increase from the $30 million to $50 million range seen in deals signed before 2020. These guarantees are detailed in NFL contract filings and team salary cap reports.
Incentive clauses in NFL quarterback contracts are classified as likely or unlikely to be earned based on the player's prior-year performance. Likely-to-be-earned incentives count against the current salary cap, while unlikely-to-be-earned incentives do not count against the cap until they are actually earned. Most top-tier quarterback contracts include escalator clauses that increase base salary by $1 million to $5 million per year if