Chargers, Justin Herbert Reach Massive 'Landmark' Extension: Report

The Los Angeles Chargers have reportedly agreed to a five-year, $262.5 million extension with quarterback Justin Herbert, sources told ESPN's Adam Schefter and Lindsey Thiry on Tuesday (July 25).

"The next QB domino falls: Chargers and Justin Herbert reached agreement today on a landmark five-year, $262.5 million extension that ties him to the franchise through the 2029 season, sources tell me and @Lindseythiry. Deal gets done before Chargers’ first training-camp practice Wednesday," Schefter tweeted.

Herbert's reported deal surpasses Baltimore Ravens quarterback Lamar Jackson's $260 million contract signed earlier in the offseason, making the former Oregon standout the highest-paid player in NFL history. Philadelphia Eagles quarterback Jalen Hurts had previously signed a then-record five-year, $225 million extension days before Jackson.

Herbert, 25, had two years remaining on his rookie contract and will now be under contract with the Chargers through the 2029 NFL season.

"I sleep better at night knowing we have a franchise quarterback," Chargers general manager Tom Telesco said while discussing Herbert's status after the conclusion of the 2022 season. "He's done so much already in his young career, yet we all know there's still a lot there because of his commitment to the game."

The former No. 6 overall pick has already thrown for 14,089 yards, which is the highest total by an NFL quarterback through their first three seasons, as well as 94 touchdowns on 1,316 of 1,966 passing.