Jacksonville is locking down its franchise quarterback.
The Jaguars and Trevor Lawrence on Thursday reportedly agreed to a five-year, $275 million extension, according to multiple reports. Ian Rapoport of NFL Network was first to the news.
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Lawrence reportedly will get $200 million guaranteed, with $142 million of it coming once he signs the deal.
The $55 million annual average of the extension would tie Lawrence with Cincinnati Bengals star Joe Burrow as the highest-paid player in the NFL.
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Lawrence, the 2021 No. 1 overall pick, is coming off a decent 2023 campaign where some of his numbers declined following a surge as a sophomore.
In 16 games, Lawrence threw for 4,016 yards on a 65.6% completion percentage, 21 touchdowns and 14 interceptions.
Despite the Jaguars finishing 9-8 for the second straight season, they didn't qualify for the playoffs with the AFC South turning more competitive.
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Lawrence led the Jaguars to the playoffs in 2022, where they pulled off an improbable comeback against the Los Angeles Chargers in the wild card round before falling to the Kansas City Chiefs in the divisional round.
Along with Christian Kirk, the Jaguars provided more weapons to Lawrence in the offseason by adding Gabe Davis from the Buffalo Bills in free agency before drafting Brian Thomas Jr. out of LSU with the No. 23 overall pick.
Mac Jones is the QB2 behind Lawrence after arriving from the New England Patriots.
