Justin Herbert will remain in Los Angeles for the foreseeable future, becoming the highest-paid player in the NFL. According to a person familiar with the negotiations, Herbert and the Chargers have reached a five-year, $262.5 million agreement that will keep the franchise quarterback in Los Angeles through the 2029 campaign.

After the Chargers activated Herbert’s fifth-year option in April, a lengthy extension of his contract appeared inevitable. His new deal, which has an average annual value of $52.5 million, makes him the highest-paid quarterback in NFL history and is the biggest contract in Chargers franchise history.

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Here are the top 5 highest paid players in the NFL in 2023

Justin Herbert, QB, Chargers

Lamar Jackson overtook Jalen Hurts as the highest-paid player in the NFL three months prior to Justin Herbert signing a $262.5 million five-year deal to stay with the Chargers. That is worth $7.5 million more than Hurts’ contract and $2.5 million more than Jackson’s deal combined. Herbert’s new contract includes $218.7 million in guarantees.

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Lamar Jackson, QB, Ravens

Lamar Jackson had surpassed Jalen Hurts to take the title of highest-paid quarterback in terms of average annual value. Similar to Hurts’ new contract, Jackson’s is a five-year agreement. Jackson’s contract is worth $260 million, including $185 million in guarantees. Jackson has an annual salary of $52 million.

Jalen Hurts, QB, Eagles

In the offseason of 2023, Hurts signed one of the biggest contracts in NFL history: a five-year agreement worth $255 million, with $179.3 million in guaranteed cash. It comes in third overall in terms of total funding, fourth in terms of guarantees, and third in terms of average yearly pay ($51 million).

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Aaron Rodgers, QB, Packers

With a yearly salary of $50.3 million, Rodgers is the next highest-paid player in the NFL heading into the 2023 NFL offseason.

Russell Wilson, QB, Broncos

After acquiring Wilson from the Seahawks last season, the Broncos now regret the lengthy contract extension they gave him. Wilson earns $48.5 million per season. Wilson completed a career-low 60.5 percent of his throws for 3,524 yards, 16 touchdowns, and 11 interceptions as Denver was 4-11 in his starts.