Jaguars, Trevor Lawrence agree to five-year extension worth up to $275 million

The Jacksonville Jaguars and quarterback Trevor Lawrence have agreed to a five-year contract extension worth up to $275 million with $200 million guaranteed, a source confirmed to FOX Sports’ Ben Arthur.

Lawrence’s deal includes $142 million fully guaranteed and a $37.5 million signing bonus.

NFL Media first reported the extension.

Lawrence is now tied with Cincinnati Bengals quarterback Joe Burrow for the highest contract average annual value — $55 million per year — in NFL history.

Lawrence has put together an up-and-down career in the NFL since he went No. 1 overall to Jacksonville in the 2021 NFL Draft as the consensus top prospect in the class. He reached the College Football Playoff three times and won a national championship at Clemson.

Lawrence has made the playoffs once, in 2022, leading a dramatic 27-point comeback against the Los Angeles Chargers in the wild-card round before losing to the eventual Super Bowl champion Kansas City Chiefs in the divisional round.

The lucrative bump comes nearly a month after Detroit gave Jared Goff a four-year extension worth $212 million that made him the second-highest paid quarterback in the league. Goff’s average salary is $53 million.

Lawrence is now the sixth QB making more than $50 million a year, joining Burrow, Goff, Justin Herbert of the Los Angeles Chargers, the Baltimore Ravens‘ Lamar Jackson and the Philadelphia Eagles‘ Jalen Hurts. Lawrence is the 14th to top $40 million annually, and he’s the youngest on the list.

The 24-year-old is 21-31 as a starter in three seasons, including 1-1 in the playoffs, and has a whopping 60 turnovers in three seasons. The Georgia native has completed nearly 64% of his passes for 11,770 yards, with 58 touchdowns and 39 interceptions. He also has 11 rushing scores and 21 fumbles lost.

The Jaguars point to a 19-game stretch spanning the 2022-23 seasons in which Lawrence was at his best. He threw for 4,713 yards, with 29 TDs and 11 INTs, as Jacksonville went 14-5 during that span. General manager Trent Baalke and coach Doug Pederson believe it’s a glimpse of what Lawrence can do when healthy and humming.

But he’s coming off an injury-filled season that Baalke called ‘alarming.’

The top pick in the 2021 draft missed the first game of his professional career following a sprained right shoulder sustained in Week 16 at Tampa Bay.

Lawrence also missed significant practice time because of other injuries: a sprained left knee in Week 6, a sprained right ankle in Week 13 and a concussion in Week 15.

The injury woes played a part in the worst late-season collapse in franchise history. The Jaguars (9-8) dropped five of their final six games and missed the postseason after spending three months atop the AFC South.

Is it a mistake for the Jaguars to extend Lawrence? | First Things First

Lawrence seemingly regressed because of the injuries. He threw for 4,016 yards, with 21 touchdowns and 14 interceptions. He also ran for four scores, lost seven fumbles and was sacked a career-high 35 times.

Baalke vowed to upgrade the team’s offensive line and responded by re-signing left guard Ezra Cleveland and adding veteran center Mitch Morse in free agency and then drafting a potential future starter with fourth-round pick Javon Foster out of Missouri.

Baalke also revamped Lawrence’s receiving group by replacing Calvin Ridley, Zay Jones and Jamal Agnew with first-round speedster Brian Thomas Jr., former Buffalo Bills starter Gabe Davis and Devin Duvernay.

Those offseason moves could help Lawrence reach his potential and finally be the generational quarterback the Jaguars thought they drafted three years ago.

Lawrence is currently +3000 to win NFL MVP on DraftKings sportsbook, while the Jaguars have +4500 odds to win the Super Bowl.

The Associated Press contributed to this report.

[Want great stories delivered right to your inbox? Create or log in to your FOX Sports account, follow leagues, teams and players to receive a personalized newsletter daily.]

FOLLOW Follow your favorites to personalize your FOX Sports experience