CINCINNATI — Joe Burrow is now the highest-paid player in the NFL.
Burrow has officially signed a 5-year, $275 million contract extension with the Cincinnati Bengals.
The most anticipated pen-to-paper post... EVER pic.twitter.com/S1ECQ3iHuP
— Cincinnati Bengals (@Bengals) September 9, 2023
ESPN's Adam Schefter first reported the contract extension Thursday. Just over $219 million of that money is guaranteed, Schefter said.
"Coming from where I come from, I know I'm going to be able to do a lot of good with that money," Burrow said Saturday at a press conference.
He also joked that he hasn't thought about what his first purchase will be, but he's just waiting to see what catches his eye online.
The two sides have been working on an extension all off-season, announcing the news just as the first game of the year — Chiefs vs. Lions — kicked off.
Burrow said he has been involved in contract negotiations the entire time. He also said it was important to get this deal done before Sunday's game against the Browns.
"I'm going to be here for a long time," Burrow said. "That's the most important thing."
Burrow wore his 2011 playoff shirt from Athens High School at the press conference. He said he also wore the shirt the day prior.
"I wanted to make sure I wore this shirt, because it's kind of where it all started," Burrow said.
The Bengals also shared a tweet Saturday that reads, "The story of Joe Burrow is nowhere close to being done." The tweet also contains a video detailing Burrow's start at Athens High School to this past season with the Bengals.
The story of Joe Burrow is nowhere close to being done. pic.twitter.com/s8yfDKmbKr
— Cincinnati Bengals (@Bengals) September 9, 2023
Eagles QB Jalen Hurts was the first to reset the market earlier this year, followed by fellow quarterbacks Lamar Jackson and Justin Herbert. Burrow's extension takes it to another level.
A record deal: Joe Burrow has reached agreement with the Bengals on an 5-year, $275 million extension that includes $219.01 million guaranteed and makes him the highest-paid player in NFL history, sources tell ESPN. pic.twitter.com/6GttDs7zk6
— Adam Schefter (@AdamSchefter) September 8, 2023
Burrow's extension will keep him with the Bengals through 2029, but the quarterback said he knew he wanted to be with the Bengals long-term from the moment he met Zac Taylor at the combine.
Taylor said it was a well-deserved day for Burrow.
"He's a guy that's represented everything we want to be about," Taylor said. "That's on the field as a football player. That's in the locker room as a teammate. That's in the classroom as a student of the game. That's as a voice of this organization and this whole state of Ohio."
On Wednesday, Burrow expressed his desire to stay in Cincinnati for as long as possible.
"This is where I want to be my whole career, we're working towards making that happen," Burrow previously said. "You've seen what the front office has done and what Zac (Taylor) has done in their time here, and I'm a small part of that and I'm excited to be a part of that."
As he enters his fourth year in the NFL, the former No. 1 draft pick has helped his team to a Super Bowl appearance and the most recent AFC Championship Game.
Now, Cincinnati can focus on Burrow's receiving corps. Tee Higgins is currently eligible for an extension, while Ja'Marr Chase will be eligible after this season.
Bengals RB Joe Mixon restructured his contract in July to stay through this season, also noting that he wants to play his career in Cincinnati. Trey Hendrickson signed a 1-year extension through the 2025 season in July, while Logan Wilson agreed to a 4-year extension during training camp.
