Burrow set to sign record-breaking contract extension. What it means for Jaguars' Lawrence

The latest domino has fallen after Cincinnati quarterback Joe Burrow reportedly agreed to a record-setting five-year, $275 million contract with the Bengals. The deal was reported just as the Kansas City Chiefs and the Detroit Lions were set to kick off the 2023 season Thursday night.

The deal includes $219.01 million in guaranteed money, which makes him the highest-paid player in NFL history, topping Los Angeles Chargers QB Justin Herbert, who signed a five-year $262.5 million extension with Los Angeles in July.

Burrow is just the latest QB to ink a new contract with his team and another step in potential future negotiations that Jacksonville Jaguars QB Trevor Lawrence will have with the team.

Lawrence cannot sign a new deal until after this season, his third in the league, but if the trends continue, he will become the highest-paid player in NFL history — at least for a time.

Multiple QBs have signed new deals with their respective teams this year, including Burrow, Herbert, Philadelphia Eagles QB Jalen Hurts and Baltimore Ravens QB Lamar Jackson. Each player, at one point, was the highest-paid player in the league.

While these players signed the largest contract on an average per year basis, Cleveland Browns QB Deshaun Watson still holds the record for most guaranteed money, with $230 million signed before last season.

Burrow, entering his fourth year with the Bengals, rose to stardom quickly, making it to the Super Bowl in his second season in the league.

Over the course of his career, Burrow has completed 68.2 percent of his passes for 11,774 yards, 82 touchdowns and 31 interceptions. The Bengals drafted Burrow with the first-overall pick in 2020.

Lawrence still has a ways to go before stepping in Burrow's shoes as a QB, however.

Last year was a step in the right direction for the third-year QB. Lawrence completed 66.3 percent of his passes for 4,113 yards, 25 touchdowns and eight interceptions. He led three fourth-quarter comebacks and two game-winning drives, according to Pro Football Reference.

Jacksonville made it to the second round of the playoffs, ultimately falling to the eventual Super Bowl champions, the Kansas City Chiefs in the AFC Divisional Round of the playoffs.

The Jaguars signal-caller was one of the best players in the league and even cracked the NFL's Top 100 players heading into the 2023 season as voted on by the players.

This season, Lawrence will be tasked with taking the team to greater heights with many projecting the team to either make it to the Super Bowl or one of the top teams contending for it by season's end.

The two QBs will face off later this season with the Bengals traveling to Jacksonville to face off on Monday Night Football on Dec. 4.

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: How Joe Burrow's contract extension impacts Jaguars' Trevor Lawrence