Trevor Lawrence agrees to $275M contract extension with Jaguars, now NFL's highest-paid QB

It's official: The Jacksonville Jaguars and quarterback Trevor Lawrence have agreed to terms on the franchise QB's five-year $275 million contract extension. Once signed, Lawrence will become the highest-paid player in team history.

The deal will run through the 2030 season, keeping Lawrence in Jacksonville for at least the next seven seasons, and also through the team's potential stadium renovation proposed to open in 2028. It ensures that Lawrence will essentially be a lifelong Jaguar, ending his deal when he is 31 years old and exiting his 10th NFL season.

“I am beyond grateful to be able to continue my career in Jacksonville,” Lawrence said via a statement released by the team Friday.

“My family and I love this city — it has become home to us and this solidifies that even more. We can’t thank Mr. Khan, and everyone involved enough for their belief in me. I know that the best is yet to come and this is only the beginning. The drive to bring a championship to Duval is bigger than ever. Let’s get it done.”

Inside the deal: Trevor Lawrence contract extension details revealed. What does it mean for the Jaguars?

Jaguars owner Shad Khan marked the extension as a further indication that the team is committed to winning for seasons to come.

"I am delighted that we've agreed to terms on a contract extension for Trevor Lawrence. Trevor and Trent Baalke both deserve immense credit for their determination over the offseason to reach a deal that will provide long-term benefits to our football team, the Jacksonville community and our fans everywhere," Khan said in a statement provided to the Times-Union.

"To get it done comfortably and amicably ahead of training camp, as with the long-term agreement we reached in April with Josh Allen, is a further statement that the Jacksonville Jaguars are committed to winning now and for many seasons to come."

The Jaguars, including general manager Trent Baalke and head coach Doug Pederson, have worked hard on Lawrence's extension over the last few months. The team solidified and agreed to the contract extension agreement on Thursday, one day after the team broke for the summer.

The extension, Baalke said, marks the reality of the vision the team had for Lawrence when he was drafted with the first-overall pick in the 2021 NFL Draft.

“With this five-year extension, the vision we had when we selected Trevor first overall in 2021 has become a reality,” said Baalke, via a statement released by the team on Friday.

“Our objectives have always been aligned.  As an organization, we have consistently messaged the importance of extending our core players and Trevor is a foundational talent that we will continue to build around in our quest for a championship.  With his talent, work ethic, leadership, and competitive drive we are confident the best is yet to come and are thrilled that he and Marissa will continue to make Jacksonville their home.”

Lawrence is the second home-grown talent to receive a contract extension by the team this year, including defensive lineman Josh Allen. In addition, the team extended linebacker Foye Oluokun's contract in March. Oluokun was signed as a free agent in 2022 and has been a key cog in the team's defense ever since.

Demetrius Harvey is the Jacksonville Jaguars reporter for the Florida Times-Union. You can follow him on X,  formerly known as Twitter, at @Demetrius82.

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This article originally appeared on Florida Times-Union: Trevor Lawrence contract: Jaguars star becomes NFL's highest-paid QB