Trevor Lawrence Contract Extension Ties Him As NFL's Highest-Paid Player

The Jacksonville Jaguars and Trevor Lawrence have both been open about the fact the quarterback didn't take a much-anticipated big leap last season and the expectation for 2024 is for him to finally do exactly that.

Well, Lawrence is leaping already. At least in the wallet.

Lawrence and the Jaguars on Thursday evening agreed to a five-year contract extension worth $275 million with a whopping $200 million in guaranteed money. Of that total guarantee, $142 million goes to Lawrence once he signs the deal, which should be in the next few days, a source said.

Trevor Lawrence showed huge improvement under Doug Pederson. (Photo by Mike Carlson/Getty Images)

How Lawrence Compares To Burrow

And that puts Lawrence, still looking for his major breakout NFL season, tied with Cincinnati Bengals quarterback Joe Burrow as the NFL's highest paid player on an annual average salary basis. Both quarterbacks average $55 million per season.

Burrow similarly signed a five-year extension worth $275 million last September.

And how does Lawrence compare with Burrow on the contract front when he hasn't performed like Burrow on the field?

Well, let's first establish the fact that Lawrence indeed has room to grow before he matches Burrow on the field:

Burrow has played only two more career games than Lawrence but has thrown 39 more touchdown passes, two fewer interceptions, has passed for 14,083 yards to Lawrence's 11,770 yards and has a completion percentage that is more than 4 points better.

Burrow also has helped his Cincinnati Bengals to a winning record. Lawrence's team is 10-games under .500 during his three seasons.

So how are these two worth the same money on average annually?

Joe Burrow (Credit: Cara Owsley/The Enquirer / USA TODAY NETWORK)

Lawrence Helped By Salary Cap Increase

The salary cap.

Burrow signed his extension a year ago. And since that time, the salary cap went up 13 percent to $255.4 million – a $30.6 million increase in one year.

And when the cap goes up, salaries go up. 

So Lawrence's deal matches the highest paid player on an annual average based on that huge cap increase.

It should be noted Lawrence did not match Burrow in guaranteed money. 

Burrow got $219,010,000 total guaranteed compared to Lawrence's previously mentioned $200 million.

That suggests there was some compromise on this deal that benefited the Jaguars while the total deal seems to work in favor of Lawrence.

And now comes the hard part:

JACKSONVILLE, Fla. - Head coach Doug Pederson of the Jacksonville Jaguars celebrates on the field after defeating the Los Angeles Chargers 31-30 in the AFC Wild Card playoff game at TIAA Bank Field on January 14, 2023. (Photo by Courtney Culbreath/Getty Images)

Lawrence's Positive Motivation To Be Great 

Lawrence must be great. Like, best player in the NFL great.

He wasn't that last season while throwing 21 TD passes and 14 interceptions, but he also had some factors working against him. He struggled with injuries. His receivers dropped quite a few scoring passes.

And the Jaguars lost five of their final six games, with the lone victory coming in a game Lawrence was inactive.

That rough end to the 2023 season has been a driving force for Lawrence, according to coach Doug Pederson. The coach has said Lawrence has been more of a vocal leader this offseason during workouts and OTAs.

"I think it's fuel, motivation for him to compete this year, to stay healthy this year, to lead better this year, and maybe demand more this year," Pederson said recently. "Those are all positive traits that can come out of something as negative as the end of last year."

Now Lawrence has something that's actually positive to motivate him to be better this year. It's no longer about trying to erase the memory of wilting at the end of 2023.

Now it can be about living up to the next contract extension in 2024.