Sources -- Chargers, QB Justin Herbert agree to 5-year, $262.5M extension - ESPN

COSTA MESA, Calif. — The Los Angeles Chargers and quarterback Justin Herbert have agreed to terms on a five-year, $262.5 million contract extension, sources told ESPN's Adam Schefter. The deal comes a day before the Bolts open training camp and keeps Herbert, 25, under contract in L.A. through the 2029 season.

The deal includes $133.7 million fully guaranteed, $193.7 million with an injury guarantee and jumping potentially to $218.7 million guaranteed, sources tell ESPN.

The team announced a multiyear extension for their franchise quarterback but did not disclose specific terms.

Herbert becomes the third quarterback this year to agree to a blockbuster extension following new deals between the Philadelphia Eagles and Jalen Hurts (Five years, $255 million) and the Baltimore Ravens and Lamar Jackson (Five years, $260 million).

Chargers quarterback Justin Herbert's extension carries an average annual salary of $52.5 million, the highest in NFL history.

Herbert's deal makes him the highest-paid quarterback in NFL history based on average annual value ($52.5 million).

«I sleep better at night knowing we have a franchise quarterback,» Chargers general manager Tom Telesco said at the end of last 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.»

Herbert has surpassed several significant statistical NFL milestones since he was selected with the sixth overall pick in 2020 and last season led the Chargers to their first playoff appearance since 2018.

In three seasons Herbert is 25-24 with a playoff loss. He has passed for 14,089 yards, besting Andrew Luck for the most passing yards through a quarterback's first three NFL seasons. He has completed