Projecting Joe Burrow, Justin Herbert Contracts After Lamar Jackson $260M Ravens Deal

Baltimore Ravens quarterback Lamar Jackson secured his bag on Thursday, agreeing to a reported five-year, $260 million deal with the franchise, resetting the market for QB contracts.

With Jackson locked up, the attention in the quarterback market will now shift to Cincinnati Bengals star Joe Burrow and Los Angeles Chargers veteran Justin Herbert, who are expected to be extended by their respective clubs next offseason.

Jackson agreeing to a $260 million deal this offseason and Philadelphia Eagles quarterback Jalen Hurts signing a $255 million extension only ups the price for players like Burrow and Herbert.

Burrow receiving a $300-plus million contract doesn't seem out of the question at this point, either.

Spotrac has the 26-year-old's market value calculated at six years and $289 million. It uses the contracts signed by Hurts, Kyler Murray (five years, $230.5 million), Deshaun Watson (five years, $230 million) and Josh Allen (six years, $258 million) as comparisons to make the projection.

Once Jackson's contract is updated in the Spotrac system, it's reasonable to believe Burrow's market value projection will increase to at least $295 million, if not more.

The 2020 first overall pick has been one of the best quarterbacks in the NFL over the last two seasons, leading the Bengals to the Super Bowl during the 2021 campaign and a berth in the AFC Championship Game the following season.

Burrow also had one of the best statistical seasons of his career in 2022, completing 68.3 percent of his passes for 4,475 yards and 35 touchdowns against 12 interceptions in 16 games, in addition to rushing for 257 yards and five scores.

As for Herbert, he should also receive a lucrative deal next offseason, though it likely won't be as significant as Burrow's.

Spotrac has Herbert's market value listed at six years and $279.4 million. It also uses the contracts of Hurts, Murray, Watson and Allen to make that projection, and the addition of Jackson's deal should only make that number rise.

It seems possible Herbert's value could be bumped to more than $285 million following Jackson's contract.

The Chargers selected Herbert sixth overall in the 2020 draft, and he's had a solid three seasons in the NFL despite only leading L.A. to the playoffs for the first time this past season and falling to the Jacksonville Jaguars in the Wild Card Round.

Most of L.A.'s struggles have been unrelated to Herbert, who has proven his worth since making his rookie-season debut. During the 2022 campaign, he completed 68.2 percent of his passes for 4,739 yards and 25 touchdowns against 10 interceptions.

Considering both Burrow and Herbert have proven to be better aerial threats than Jackson, who is arguably the best quarterback in the NFL on the ground, it's going to be interesting to see how their eventual deals stack up against the remainder of the league's top signal-callers.