NFL Trade Rumors: Jacksonville Jaguars Sign Quarterback Trevor Lawrence to Massive Extension

The Jacksonville Jaguars are betting big on their former first-overall pick. According to NFL Network's Ian Rapoport, the Jaguars have signed quarterback Trevor Lawrence to a massive five-year, $275 million extension that will tie him to the team through the 2030 season.

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The #Jaguars have reached a deal with their star QB Trevor Lawrence. Sources says they are giving the former No. 1 pick a 5-year extension worth $275M — $55M a year — with $200M guaranteed and $142M fully.

Lawrence’s agent Jay Courie of @mgcsports did the deal. 💰 pic.twitter.com/C3BaDgsjEV
— Ian Rapoport (@RapSheet) June 13, 2024

The Jaguars took Lawrence first overall in the 2021 NFL Draft after a legendary college career at Clemson that included an undefeated National Championship-winning season in 2019. Pegged as one of the greatest quarterback prospects of all time, Lawrence went on to amass a 20-30 record over his first three NFL seasons, passing for 11770 yards, 58 touchdowns, and 39 interceptions.

Lawrence's extension ties him with Cincinnati Bengals quarterback Joe Burrow for the highest-paid player in the league at $55 million per year, though his $200 million in total guarantees falls short of Burrow's $219.01 million.

The contract is a staggering investment in Lawrence, who is 10 games under .500 as a starter and has yet to establish himself as a true top-10 quarterback in the league. The Jaguars under Lawrence peaked with a 9-8 season in 2022, with Lawrence counting a little under $8.4 million against their salary cap. It's difficult to imagine the Jaguars fielding significantly improved surrounding talent with Lawrence now set to account for as much as a fifth of their cap in future seasons

All the physical tools that made Lawrence such a coveted prospect in 2021 remain in place, and at only 24 years old, his best years are likely ahead of him. Still, he'll have to improve dramatically for the Jaguars to climb into the upper echelons of the AFC. Failing that, the Jaguars will have to radically improve their roster in the coming years, even with vastly diminished resources. That may require a new head coach or general manager sooner than later.