Justin Herbert's contract extension is huge: What it means for Jaguars' Trevor Lawrence

Another quarterback contract domino fell Tuesday evening after Los Angeles Chargers QB Justin Herbert received a massive five-year, $262.5 million contract worth up to $218.7 million in guaranteed money.

At $52.5 million per year, Herbert jumps Baltimore Ravens QB Lamar Jackson as the highest-paid player in the league. Jackson signed a five-year deal worth $260 million earlier this offseason.

Herbert's contract is yet another contract benchmark for the Jacksonville Jaguars to use with QB Trevor Lawrence's contract extension when he becomes eligible at the end of the 2023 season.

More Jaguars coverage:

Frenette: Hunters or hunted, Jaguars must pounce on prime opportunity in 2023

Coming soon: Four Seasons announces its luxury brand will open in Jacksonville in 2026

NFL Top 100: See where Jacksonville Jaguars QB Trevor Lawrence landed in players' ranking

Herbert, drafted in the first round of the 2020 NFL Draft, got the second-highest total in guaranteed money behind Cleveland Browns QB Deshaun Watson. Watson received an unprecedented — and still unmatched — fully-guaranteed deal worth $230 million from the Browns after the team acquired him last offseason.

For Jacksonville, Lawrence's contract will only increase as time moves on. Next on the docket to receive a massive contract extension is Cincinnati Bengals QB Joe Burrow. After that, Lawrence is likely the next young QB in line to receive a mega-deal.

If the rise in contract guarantees and full value continues to rise as it always has, Lawrence has an opportunity to dwarf every QB contract in the league, including the one Cincinnati will give Burrow later on this preseason. The NFL's salary cap is also set to rise next offseason, putting more money into the pot for Lawrence's payday.

It would not be surprising to see Lawrence net somewhere close to $60 million per year in average salary. At the current pace of about $1-2 million per year increase on contracts given this offseason, it would be surprising to see Lawrence offered anything lower than $55 million per year, which would mean $275 million over five years.

For now, Lawrence looks to capitalize on a promising 2022 campaign where he completed 66.3 percent of his passes for 4,113 yards, 25 touchdowns and eight interceptions. Lawrence added another five touchdowns on the ground last year en route to the playoffs.

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

This article originally appeared on Florida Times-Union: Justin Herbert's Chargers deal benchmark for Trevor Lawrence, Jaguars