Chargers ink Justin Herbert to record-breaking five-year deal worth $262.5 million

The Los Angeles Chargers have locked down their star quarterback through at least 2029, signing Justin Herbert to a five-year, $262.5 million deal, according to ESPN's NFL Insider Adam Schefter. 

The deal, which currently makes him the highest-paid player in the history of the NFL, nets him $52.5 million per season and contains incentives that could bump that number to $53 a year, just over what the Baltimore Ravens gave their own franchise quarterback in Lamar Jackson (5-years, $260 million), according to CBS Sports. 

He was slated to earn just over $4 million for the 2023-24 season under his rookie contract.

Now 25, Herbert debuted with the Bolts in 2020 after being selected sixth overall in the NFL Draft out of the University of Oregon, and has thrived ever since, amassing 94 touchdowns and 14,089 yards to the tune of a 96.2 passer rating in 44 games.

He was named the NFL's Rookie of the Year and the Offensive Rookie of the Year for his performance, breaking the record for most touchdowns thrown by a rookie (28) along the way — finishing the season with 31. 

In his second season, Herbert set the Chargers franchise records in both passing yards (5,014) and passing touchdowns (38), earning his first berth in the Pro Bowl.

Last season, Herbert ended the Bolts' three-year playoff drought, leading them to a 10-7 record and earning a berth as one of three AFC wild card seeds before they fell to the Jacksonville Jaguars in the Wild Card Round.

The deal comes just in time as the Chargers are set to begin training camp on Wednesday.