By The world of the NFL is competitive, and player salaries are reaching dizzying new heights. This year, the salary cap set by the NFL has hit a record $255.4 million per team. That’s over $30 million more than last year, marking the biggest jump since caps were first used back in 1994.
Not only do these caps cover what teams can spend on player salaries, but they also include performance bonuses and benefits for retired players, pushing total player costs to a massive $329.4 million for each team.
With these blowout numbers in mind, let’s explore the world of the highest-paid NFL players in 2024.
Dak Prescott: $60M Avg/Year
Dak Prescott, the star quarterback for the Dallas Cowboys, just secured a massive contract. His new deal is a four-year extension worth $240 million, with an incredible $231 million guaranteed and an $80 million signing bonus. This makes him the highest-paid player in NFL history, with an average salary of $60 million per year.
Beyond his impressive paycheck, Prescott boosts his earnings with endorsements from big brands like AT&T, Nike, and PepsiCo.
Jordan Love: $55M Avg/Year
Jordan Love, the standout quarterback for the Green Bay Packers, snagged a huge four-year contract extension worth $220 million. That’s $55 million a year, not exactly chump change and not bad for a man who started as Aaron Rodgers’ backup. The Packers obviously have great plans for this gifted athlete who proved he’s something special during his first season as the Packers’ starting QB.
Unfortunately, a knee injury early this season has sidelined him, but fans are eagerly anticipating his comeback. Off the field, brands like Bose and Old Spice have lined up for endorsements, capitalizing on his growing fame.
Despite his setback, Love’s potential is a hot topic, especially among those interested in the player prop bets NFL enthusiasts follow. These bets focus on individual players’ game-day performances rather than team outcomes, which lets them wager on individual performances, such as who might score the most touchdowns or rack up the most rushing yards.
Trevor Lawrence: $55M Avg/Year
Trevor Lawrence, the talented quarterback for the Jacksonville Jaguars, is making waves with his impressive new contract. In June, he inked a five-year extension worth $275 million, with $200 million guaranteed.
Known for leading Clemson to a national championship as a freshman, Lawrence was the No. 1 overall pick in the 2021 NFL Draft and the deal, which will see him earning $55 million each year is a reflection of what the Jaguars expect from him in the future. Off the field, his star power is reflected by the endorsements he has received from global brands like Gatorade, Ritz Crackers, Adidas, Bose, and Breitling watches.
Joe Burrow: $55M Avg/Year
Joe Burrow, quarterback for the Cincinnati Bengals, is making headlines with his massive new contract. Following a five-year extension worth $275 million, he brings in an average salary of $55 million each year, matching the earnings of fellow quarterbacks like Love and Lawrence.
Burrow’s talent was recognized early on during his college years at LSU, where he captured both the national championship and the prestigious Heisman Trophy for being the nation’s top player. His journey continued as he became the No. 1 overall pick in the 2020 NFL Draft.
Off the field, Burrow is quite the marketable star, securing endorsement deals with popular brands such as Buffalo Wild Wings, Cash App, BodyArmor Sports Drink, and Guinness. His mix of on-field success and marketability makes him a rising star in the NFL.
Tua Tagovailoa: $53.1M Avg/Year
Tua Tagovailoa, the Miami Dolphins’ dynamic quarterback, just signed a major four-year contract extension worth $212.4 million. This deal means Tua will earn an annual salary of $53.1 million. Known for his strong passing game, Tua led the league in yardage last year.
Unfortunately, his season took a turn when he suffered his third NFL concussion, landing him on the injury reserve list. Nonetheless, his contract ensures he’s financially secure, with $167.1 million in guaranteed money.
Off the field, Tua is attracting attention (and a whole lot of cash), from some big brands. He’s secured endorsement deals from Adidas, Bose, Muscle Milk, and Wingstop. Despite his current setback, Tua’s career continues to captivate both fans and brands alike.
The gargantuan salaries of these NFL superstars pale into insignificance when compared to the sheer excitement of watching them play. NFL management knows that these professionals are capable of propelling them to the very top of the league – and that these players attract new fans, increase TV viewership and supercharge merchandising sales – it’s all about the return on investment – and if these players deliver then even the most expensive contract is money well spent.
