The first major domino in terms of 2023 quarterback deals has fallen, and in historic fashion. The Eagles announced on Monday that they have agreed to terms on an extension with Jalen Hurts. Tom Pelissero of NFL Network tweets that the contract is five years in length and has a base value of $255MM.
That figure makes Hurts the highest-paid player in NFL history with respect to annual compensation, and brings his new-money average to $51MM per season. Pelissero adds that the extension includes $179.3MM in guarantees, as well as a no-trade clause, something which is a first in Eagles history. Another $15MM in incentives exists, which could push Hurts’ earnings to $54MM per season, per Pelissero (Twitter link).
The 24-year-old had one season remaining on his rookie contract, meaning he will be on the books in Philadelphia through 2028. This offseason marked the first in which Hurts was eligible for an extension, something which was quickly named as a priority for the NFC champions. The Eagles have, as expected, seen a number of notable defensive departures recently, but the foundation of their offense will be in place for the foreseeable future with this deal.
Hurts will earn the second-highest in total guarantees in league history, behind only the $230MM given to Deshaun Watson by the Browns last offseason. Pelissero and colleague Ian Rapoport detail that Hurts will receive $110MM fully guaranteed at signing, the third-highest such total in the NFL behind only Watson and Russell Wilson. The Eagles will pay out a signing bonus of $23.3MM in 2023, and give Hurts $64MM over the course of the first year of the pact. Needless to say, this news marks a massive development for all parties involved.
Hurts entered the 2022 season with questions about his ability to develop into a legitimate franchise quarterback. He put those to rest with his performance during the year, which helped Philadelphia earn the No. 1 seed in the NFC and put the former second-rounder in the MVP conversation. Hurts was named a Pro Bowler and earned second-team All-Pro honors for the first time in his career, guiding one of the league’s best rushing and passing offenses. His development in the latter category convinced the team that such a massive investment would be a safe one.
The Alabama product took a massive step forward as a passer in 2022, totaling 3,701 yards and 22 touchdowns through the air. He added 760 yards and 13 yards on the ground, remaining the focal point of the team’s ground attack. Aside from one hugely costly fumble, his Super Bowl performance garnered widespread praise and put an extension at the top of the Eagles’ to-do list this spring. With that now taken care of, the effect the deal will have on the rest of the QB market will be worth monitoring closely.
Hurts’ deal comes at the same time that Lamar Jackson, Joe Burrow and Justin Herbert are all eligible for massive second contracts of their own. The Ravens, Bengals and Chargers remain in negotiations with their respective passers, though Baltimore’s talks with Jackson have been the most public and tenuous. This Hurts pact represents the latest non-Watson one to feature less than 100% in guarantees, though its AAV will no doubt help young QBs up for their own extensions establish a floor for negotiations.
The Eagles enjoyed one of the best seasons in franchise history in 2022, given the success of general manager Howie Roseman had in acquiring short- and long-term additions on the trade, free agent and draft fronts. With Hurts in place for the long-term, the team’s most important piece is on the books during what could be a lengthy Super Bowl window. Whether this sets off a chain reaction of other mega-deals at the QB position in the coming weeks, meanwhile, will have significant effects on several other teams around the league.