9 NFL Players Most Likely to Reset Market With Record-Breaking Contracts

The period between the NFL draft and the start of training camp can be relatively devoid of on-field news. However, noteworthy developments continue to unfold, often of the financial variety.

The summer provides teams with a great opportunity to extend some of their top young players. Rosters are more settled, financial outlooks are clearer, and negotiations won't serve as a distraction from meaningful work.

For example, the San Francisco 49ers recently signed quarterback Brock Purdy to a five-year, $265 million extension. This solidifies Purdy as the team's franchise quarterback well ahead of mandatory minicamp on June 10.

Purdy's extension won't be the last we see this offseason. Other members of the 2022 draft class are extension-eligible, and several teams will find more financial flexibility next month—when players released with a post-June 1 designation will come off of the books.

While Purdy's contract didn't reset the quarterback market, some extensions we'll see in the coming months probably will. Here, we'll examine the nine players most likely to sign record-setting contracts this season and why.

Lamar Jackson, QB, Baltimore Ravens

AP Photo/ Jeffrey T. Barnes

Purdy didn't top Dak Prescott's league-leading contract, which is worth $60 million annually. There's a good chance that other young quarterbacks who become extension eligible—like 2023 draft picks C.J. Stroud and Bryce Young—won't top Prescott's deal either.

The Dallas Cowboys waited until every other quarterback got paid before topping the deals of Joe Burrow, Trevor Lawrence and Jordan Love by $5 million annually. Simply put, they overpaid.

If there is a quarterback who can supplant Prescott as the highest-paid in history in the near future, it's Baltimore Ravens star Lamar Jackson.

Through seven seasons, the Louisville product has become a four-time Pro Bowler, a two-time first-team All-Pro and a two-time league MVP. He has also set a new NFL rushing record for quarterbacks with 6,173 career yards.

Oh, and Jackson won't even turn 29 until next January. And while he's under contract through 2027, his $52 million annual salary falls a bit shy of the league's top signal-callers. The Ravens have discussed remedying the situation and locking up their quarterback for the foreseeable future.

"There's been conversations about that internally, I know," head coach Jim Harbaugh told reporters in March.

While Buffalo Bills quarterback Josh Allen didn't top Prescott's deal with his 2025 extension, Jackson is the next quarterback up with the best chance to do it.

Trey Smith, G, Kansas City Chiefs

AP Photo/Reed Hoffmann

The Kansas City Chiefs managed to keep standout guard Trey Smith away from free agency by utilizing the franchise tag. They have until July 15 to work out a long-term extension with him, or else he'll be limited to playing on a one-year contract.

Should the Chiefs get an extension done with Smith, there's a good chance that he'll supplant Philadelphia Eagles guard Landon Dickerson as the highest-paid in league history.

Dickerson's latest contract is worth $21 million annually over four years with $50 million guaranteed.

There are a few reasons Smith's deal could top Dickerson's. For one, the Chiefs tend to reward their best players—Kansas City's Creed Humphrey is the league's highest-paid center. Secondly, while Smith has received just one Pro Bowl nod and is a former sixth-round pick, he's also one of the league's best young guards.

Pro Football Focus ranked Smith, who will turn just 26 next month, 14th overall among all guards last season.

Lastly, the Chiefs may have to give Smith a record-setting deal to get a long-term contract signed. He's set to earn $23.4 million fully guaranteed under the franchise tag this season, which is both more than Dickerson makes annually and close to half of the guarantees on his four-year deal. Pocketing that money and hitting the market in 2026 will be an option for Smith.

Tyler Smith, G, Dallas Cowboys

AP Photo/Brandon Wade

Dallas Cowboys offensive lineman Tyler Smith is extension-eligible this offseason, though Dallas doesn't have a recent habit of awarding new contracts early. If the Cowboys decide to extend him this offseason at all, there's a good chance they'll wait until after Trey Smith has signed his deal.

Now, there's no guarantee the Cowboys will extend Smith this year. The 2022 first-round pick still has two years remaining on his rookie deal, and Jerry Jones has a tendency to wait on contracts. There are reasons why it would make sense, however.

Smith has started 47 games in three seasons and has earned a pair of Pro Bowl nods. He's also proven himself capable of filling in at tackle if needed and has been mostly reliable when in the lineup.

While Smith does have an alarming penchant for penalties—he had nine last season, per PFF—he's played at least 96 percent of the offensive snaps in every campaign.

Does Smith deserve a record-setting contract after only three seasons? Perhaps not, but since we're talking about the Cowboys, it's entirely possible. Prescott wasn't the best quarterback in the NFL entering the 2024 season, but Jones made him the highest-paid player in league history anyway.

Rashawn Slater, OT, Los Angeles Chargers

AP Photo/Kyusung Gong

The Los Angeles Chargers were busy building a powerful offensive line long before Jim Harbaugh took over as head coach. Harbaugh does love to build in the trenches first, but offensive tackle Rashawn Slater was drafted back in 2021.

The fact that Slater hasn't already received an extension is actually a bit surprising. He did miss most of 2022 with a torn biceps tendon, but he's a two-time Pro Bowler who locks down the all-important left tackle spot.

Slater has watched as the Detroit Lions gave fellow 2021 first-round pick and offensive tackle Penei Sewell a lucrative deal last offseason. Now, though, it may finally be his turn.

"We've had conversations," general manager Joe Hortiz told reporters during his post-draft press conference.

Tristan Wirfs of the Tampa Bay Buccaneers currently leads all tackles with a contract worth $28.1 million annually. While Slater's resume isn't quite as impressive as Wirfs'—Wirfs is a four-time Pro Bowler and two-time first-team All-Pro—he is one of the best young players at his position.

Slater, who just turned 26 in July, was ranked second overall among 140 tackles by Pro Football Focus last season. Jordan Mailata, who signed an extension in 2024, was ranked first.

Micah Parsons, Edge, Dallas Cowboys

AP Foto/Terrance Williams

The Cowboys have a habit of waiting to sign players. This has often led to cheaper years on the front end and top-of-the-market extensions on the back end. It's probably going to happen again with pass-rusher Micah Parsons, who is entering the final year of his rookie contract.

Once again, Jerry Jones does not appear to be in a rush to extend one of his best players.

Cleveland Browns star Myles Garrett became the highest-paid defender in league history this offseason when he signed a deal worth $40 million annually and with $123.6 million guaranteed.

Parsons, who is only 25 years old, is one of the few pass-rushers in the NFL who belongs in the same conversation with Garrett. In four pro seasons, Parsons has tallied 52.5 sacks, 63 tackles for loss and 177 quarterback pressures.

Is Parsons a better player than Garrett? That's debatable, but given the next-man-up nature of pass-rusher deals, he will eventually become higher-paid.

T.J. Watt, Edge, Pittsburgh Steelers

AP Photo/Terrance Williams

As previously noted, the Cowboys tend to wait on contract extensions, which is why multiple edge-rushers have made this list. There's a non-zero chance that more than one new player will spend time as the league's highest-paid defender this year—as quarterbacks Jordan Love and Dak Prescott did in 2024.

Much will depend on whether another pass-rusher signs before Parsons does. Pittsburgh Steelers sack artist T.J. Watt will be a name to track in the coming weeks.

He's a four-time first-team All-Pro and 2021 Defensive Player of the Year, is on Garrett's level and has been statistically more impressive. He's also in the final year of a contract worth just $28 million annually. Yet, Pittsburgh hasn't moved quickly to extend him.

"Signing a superstar such as T.J. Watt to a contract extension is not a simple matter, and so it's going to take time," Bob Labriola of the Steelers' official website wrote last week. "Those kinds of things usually take place during the summer."

We're highly likely to see a new deal for Watt before the start of training camp since the Steelers tend to avoid negotiations during the regular season. If Watt doesn't at least surpass the annual earnings of his division rival, it'll be a fairly substantial surprise.

Aidan Hutchinson, Edge, Detroit Lions

AP Photo/Jerome Miron

While Watt may net a record annual salary on a shorter deal—likely the final big-money extension of his career—Lions pass-rusher Aidan Hutchinson may rival Parsons to earn the most as a younger sack artist.

The one potential obstacle for Hutchinson is the fact that he's coming off a broken leg that cost him all but five games last season. He cannot match Parson's raw statistics, though the 24-year-old has been remarkably productive when healthy.

Between the 2022 and 2023 seasons, Hutchinson recorded 21 sacks, 23 tackles for loss, 92 quarterback pressures and 10 passes defended. Now that he's on the mend, the Lions are ready to talk about an extension.

"It does seem like, while there have been some talks and discussions, it seems like the Lions' move to pay him was waiting until he got fully cleared," NFL Network's Ian Rapoport said last week (h/t Bleacher Report's Timothy Rapp). "Now he is."

Is it too early in Hutchinson's career to make him the highest-paid pass-rusher in league history? Perhaps, but the Lions are quick to reward their own, and he's one of the best in the business when at 100 percent.

Sauce Gardner, CB, New York Jets

AP Photo/Adam Hunger

While the New York Jets have struggled to be competitive in recent years, the fault doesn't lie with a poor 2022 draft class. Cornerback Sauce Gardner, wide receiver Garrett Wilson and pass-rusher Jermaine Johnson II were all first-round picks that year who have found success since.

Gardner and Johnson have both earned Pro Bowl nods, while Wilson has recorded three 1,000-yard seasons. While Johnson is recovering from a torn Achilles, the Jets are eager to extend Gardner and Wilson.

"The to-do list is to keep good young players on the team and add good players," general manager Darren Mougey said, per ESPN's Rich Cimini.

Of New York's three 2022 first-round picks, Gardner has the best chance of signing a record-setting contract this year.

The Cincinnati product was named Defensive Rookie of the Year in 2022 and has earned first-team All-Pro honors twice. He had a "down" season in 2024 but allowed an opposing passer rating of only 86.9 in coverage.

Fellow 2022 first-round pick and Houston Texans cornerback Derek Stingley Jr. was a first-team All-Pro in 2024 but hasn't quite matched Gardner's overall three-year resume. Yet, he became the highest-paid defensive back in league history in March with an extension worth $30 million annually.

One can argue that Stingley is the better of the two young star corners, but he signed first, and Gardner may sign for more.

Kyle Hamilton, S, Baltimore Ravens

AP Photo/Connor Hamilton

Lamar Jackson isn't the only Ravens star who could sign a record-setting deal within the next year. Safety Kyle Hamilton may not break Stingley's record for defensive backs, but he could set a record for safeties.

The record currently belongs to Lions safety Kerby Joseph, a 2022 third-round pick who inked an extension worth $21.5 million annually in April.

Hamilton was taken two rounds ahead of Joseph in the 2022 draft and has been just as impressive on the field. Joseph holds a big edge in interceptions, while Hamilton has an edge in tackles for loss and sacks, but the numbers are otherwise close.

Joseph has recorded 31 passes defended, 17 picks, 247 tackles and 182 solo stops in 49 career games while allowing an opposing passer rating of 63.4 in coverage. Hamilton has logged 27 passes defended, five interceptions, 250 tackles, 186 solo stops, 18 tackles for loss and seven sacks in 48 games while allowing an opposing passer rating of 69.5 in coverage.

While their roles and playing styles are different, Joseph and Hamilton are two of the best young safeties in the game. One has already signed a second contract. The other is taking a patient approach.

"If it happens it happens, cool. If it happens this offseason, cool too, but I'm not in a rush to get it done necessarily," Hamilton said in April, per Clifton Brown of the team's official website.

If Hamilton does get his extension this offseason, he'll have a good chance of replacing Joseph as the highest-paid safety in history.

*Contract information via Spotrac. Advanced statistics from Pro Football Reference unless otherwise noted.