Technically, the Cincinnati Bengals have already picked up the fifth-year option on Joe Burrow's rookie contract. On that deal, Burrow is poised to make $29.504 million, according to Spotrac.
While around about $30 million is not a figure to scoff at, Burrow has been rubbing shoulders with the likes of Patrick Mahomes, Jalen Hurts and Lamar Jackson in recent years, finishing fourth in MVP voting this past season.
The Bengals have been in talks to ink a new (read: monster) deal for Joe Burrow, one that would surely place him alongside the likes of Mahomes, Hurts and Jackson in dollar terms.
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This week, Burrow broke his silence on those negotiations.
"I'm involved. That's in the works," Burrow said in a press conference on Tuesday. "That's not really something that I like to play out in the media. Just the way I think they want to do business, I want to do business, we prefer to keep that between us."
Burrow added:
"I'm pretty clear on what I want in the contract and what I think is best for myself and the team. So we're on the road to making that happen."
Burrow, of course, has a strong case to be the highest-paid quarterback in the NFL. Over the past couple of years, the former LSU superstar has led the Bengals to Super Bowl LVI and to the AFC Championship Game last season, where Cincinnati fell to the eventual champion Chiefs in January.
Highest-paid QBs in the NFL in 2023
As things stand, Lamar Jackson is the highest-paid player in the league after signing a five-year, $260 million extension with the Ravens this offseason. Per Spotrac figures, his average annual salary clocks in at $52 million.
Joe Burrow's looming extension is, according to multiple reports, expected to clear Lamar Jackson's recently-inked deal.
Were that to happen, the face of the Bengals franchise could end up making over $52 million a year.
For context, going by average annual value, Patrick Mahomes is currently the seventh-highest-paid quarterback in the league with an annual salary of $45 million.
According to reports, however, the Super Bowl MVP could also be due to sign a new contract.
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