Jaguars start contract extension talks with QB Trevor Lawrence, says GM Trent Baalke

INDIANAPOLIS — While Jacksonville Jaguars general manager Trent Baalke has some negotiating to do with outside linebacker Josh Allen and receiver Calvin Ridley ahead of the franchise tag deadline and the new league year, it doesn't mean the team hasn't started the process for their next whale of a deal: quarterback Trevor Lawrence.

Lawrence, entering his fourth season in Jacksonville, is eligible to receive a contract extension after finishing his third season in the league this past year.

Just before taking to the stage Tuesday at the 2024 NFL Scouting Combine to address the media, Baalke spoke with NFL Media's Cameron Wolfe to discuss various aspects of the team's moves, but also indicated the Jaguars are already starting the process of talking with Lawrence's representatives about a contract extension.

"We've started discussions and, as you know, those are gonna be ongoing. None of this stuff happens overnight. You work diligently between the two parties to try to get something done," Baalke said Tuesday about a potential Lawrence contract extension and extending other players on the team.

"You want to keep football players, that's the object. You wanna draft good football players, you want to keep 'em. And the more players we get that we bring into the system, under our tutelage and maintain and keep in our system, the better we're gonna be."

Combine news and notes: Jaguars' Pederson, Baalke talk contracts, prospects and more at NFL Combine

[Corey Perrine/Florida Times-Union]
[Corey Perrine/Florida Times-Union]

Lawrence, drafted with the first-overall pick in the 2021 NFL Draft, has enjoyed success the last two years as the team's starting quarterback.

His most impressive season to date, his second year in the league in 2022, Lawrence posted career numbers with 4,113 yards, 25 touchdowns, a 66.3% completion percentage and just eight interceptions after posting a league-high 17 interceptions during his rookie season.

Last season, Lawrence completed 65.6% of his passes for 4,016 yards, 21 touchdowns and four interceptions. He's completed 63.8% of his passes for 11,770 yards, 58 touchdowns and 39 interceptions in 50 regular-season games. Lawrence has played and started in two playoff games that came during the team's 2022 season as AFC South Champions.

Lawrence said earlier this offseason that he wasn't concerned with when he signed an extension and understood the process.

What could a contract extension for Trevor Lawrence look like?

Jacksonville Jaguars quarterback Trevor Lawrence (16) talks with Los Angeles Chargers quarterback Justin Herbert (10) after the game of an NFL first round playoff football matchup Saturday, Jan. 14, 2023 at TIAA Bank Field in Jacksonville, Fla. Jacksonville Jaguars edged the Los Angeles Chargers on a field goal 31-30. [Corey Perrine/Florida Times-Union]

Trevor Lawrence is among the next few quarterbacks slated for titanic paydays.

Last year, five young quarterbacks signed big-time contract extensions, including Daniel Jones of the Giants, Jalen Hurts of the Eagles, Lamar Jackson of the Ravens, Justin Herbert of the Chargers and Joe Burrow of the Bengals. Burrow and Herbert were the most recent players to ink new deals and are the two highest-paid players at the position.

Burrow signed a five-year deal worth $275 million last year, making him the highest-paid player in the league. Herbert's deal is for seven years and $296 million, roughly $42.3 million a year.

On the flipside, Jones inked his new deal with the Giants just before the new league year in 2023. He signed for a "modest" $40 million per deal, inking a four-year deal worth $160 million and $81 million fully guaranteed.

For Lawrence, he will likely command top dollar closer to the deal that Burrow signed considering his success, potential and how the team feels about him as a player. It would not be surprising to see his deal net around $60 million per season when it's all said and done, depending on his play and the timing of the deal.

Though Jones has enjoyed a bit of success in the NFL, his contract reflected his perceived value at the time.

Before signing his extension, for example, Jones hadn't thrown more than 15 touchdown passes since his rookie year (24). He also hadn't finished a full season at any point in his career, missing 12 games before signing the extension. Jones missed 11 games this year due to injury, too.

While Lawrence has battled through injuries, he has missed just one game in his career, a Week 17 game against the Carolina Panthers this past season.

Lawrence's contract likely aligns more with Burrow or Herbert's deals, but he might have to post another successful season to enjoy that type of deal.

Baalke did not give a timeline on any deal — but did not rule out a Lawrence extension for this offseason at his end-of-season press conference — that could get done with Lawrence, but starting the process this early is expected as the team works through what life after a Lawrence contract extension could look like.

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: Jaguars start contract extension discussions with QB Trevor Lawrence