Breaking down Joe Burrow's new contract that made him highest-paid player
Burrow signed a five-year extension last week
Joe Burrow signed an extension with the Cincinnati Bengals last Thursday that made him the league's highest-paid player. Initially, all we knew about the extension was that it was for five years and was worth $275 million with $219 million guaranteed.
On Monday, details of Burrow's new contract emerged, courtesy of Pro Football Talk's Mike Florio.
Details from Joe Burrow contract
According to Andre Perrotta on X, based on what Florio reported, Burrow's cap hit for this season increases by $8 million. Burrow's original cap hit was going to be roughly $11 million and now it's over $19 million. His 2024 cap hit, however, isn't impacted.
Based on these reported numbers from PFT, Burrow's 2023 Cap Hit will increase by $8M from his rookie deal (the $40M 2023 fully GRTD roster bonus is treated as a signing bonus for proration purposes).
— Andre Perrotta (@andreperrotta13) September 11, 2023
2023 Cap Hit (pre-extension) = $11.515M
2023 Cap Hit = $19.515M https://t.co/Dh6PHPxhmC
"The deal pays out $310 million over seven years, with $219 million in injury guarantees covering five years. (The Bengals previously refused to guarantee contracts for injury more than a year in advance.)"
- Mike Florio
The Bengals paid the price to have their franchise quarterback in town for the next several years and it's a price that most teams in the league wouldn't hesitate to pay. Burrow changed the culture of the Cincinnati Bengals turning them into a Super Bowl contender. It was a no-brainer to pay him and keep him happy.
Now, however, the Bengals will have to shift their attention toward trying to keep their two prolific wide receivers. The season began without Tee Higgins getting extended but the Bengals could franchise tag him next year if a deal is not agreed upon. Kelsey Conway of the Enquirer, however, said that it doesn't appear that Higgins and the team are close to a deal.
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Ja'Marr Chase will be eligible for an extension next offseason as well and it'd make sense if he's the bigger priority given his close relationship to Burrow. These are the problems that teams with franchise quarterbacks have in the offseason but right now, Burrow is taken care of and that's all that matters for this team.