The QB Market’s Substantial Growth

A year after a host of young quarterbacks jockeyed for position to form the $50MM-per-year club, the Cowboys made Dak Prescott the first 30-something member of this contingent. Facing historic player leverage, Dallas greenlit a deal that separated Prescott from the pack.

The NFL has managed to climb from $30MM being its highwater salary point to Prescott’s $60MM-AAV place in barely six years. It took more than 30 years for the league to climb from its first $1MM quarterback to Matt Ryan‘s $30MM-per-year deal from 2018, illustrating the booming market — as the salary cap continues to spike — the current crop enjoys.

Since the 1993 offseason brought the league’s first $5MM-per-year player, here are steps taken to move the market to where it currently stands:

July 15, 1993

  • Steve Young signs five-year, $25.25MM 49ers extension

As the free agency era began, the franchise tag also made its debut. Young was in the first class of tagged players, and the 49ers rewarded the reigning MVP by making him the NFL’s first $5MM-per-year player. Young’s agreement, which narrowly surpassed fellow future Hall of Famer John Elway‘s 1993 extension, covered four seasons before the southpaw passer landed another 49ers re-up in 1997.

March 2, 2001

  • Packers give Brett Favre 10-year, $101.5MM deal

Dubbed as a “lifetime contract,” Favre’s deal made him the league’s first eight-figure-per-year player. This contract ended up being acquired by the Jets in 2008.

December 29, 2005

Acting early, the Bengals re-upped Palmer late in his second season as their starter. Three years remained on Palmer’s rookie deal at the time. The former No. 1 overall pick did not receive a new one until after his 2011 trade to the Raiders.

July 13, 2012

  • Drew Brees ends franchise tag period with five-year, $100MM Saints accord

It took a bit longer for the NFL to get from $15MM per year to $20MM on average, as the 2011 CBA did not bring cap growth until the mid-2010s. Brees agreed to terms shortly before the July tag deadline, with this deal coming with a grievance that ruled the Saints QB’s tag counted as his second even though his first tag (2005) came from the Chargers. Brees winning the grievance worked as precedent in cases like Kirk Cousins‘ down the road.

June 23, 2017

Admitting he left some money on the table, Carr still became the NFL’s first $25MM-per-year man. He played on that contract through the 2021 season, before agreeing to terms on a third Raiders pact — one that came with a notable escape hatch — in 2022.

May 3, 2018

The floodgates began to open following Carr’s accord and Cousins’ fully guaranteed Vikings pact. Ryan did not land a deal after his 2016 MVP season, but following another Falcons playoff berth in 2017, their longtime starter reaped rewards. Ryan remained attached to this deal following a 2022 trade to the Colts.

April 16, 2019

Meeting their starter’s deadline, the Seahawks hit $35MM per year on the dual-threat standout’s third contract. Wilson played three seasons on this deal. Leery of another negotiation, Seattle bailed in 2022 via a blockbuster trade. Denver then authorized an extension — one it shed to set a dead money record — days before Wilson’s debut with the team.

July 6, 2020

Mahomes became the first NFLer to hit both the $40MM- and $45MM-per-year benchmarks, signing a deal that upped the market but gave the team tremendous flexibility. The Chiefs reworked Mahomes’ contract in 2023 but have gone to the restructure well three times, including this offseason. No one else has signed a contract spanning more than six years since, and Mahomes is the only NFLer tied to a team through 2031.

March 8, 2022

As trade rumors (most notably involving the Broncos) followed Rodgers since his feud with Packers management became known on draft weekend 2021, the four-time MVP agreed to stay for what turned out to be one more season in Green Bay. The Packers constructed the contract to include a bonus structure that allowed for an easier trade. Both the Packers and Jets restructured Rodgers’ deal, which did still tag Green Bay with more than $40MM in dead money, in 2023.

September 7, 2023

An offseason of one-upping that involved Jalen Hurts, Lamar Jackson and Justin Herbert ended with Burrow setting the market at $55MM per year. Trevor Lawrence and Jordan Love hit this AAV in 2024.

September 8, 2024

Armed with unique leverage and wielding it during his latest round of extension talks, Prescott upped the market by $5MM per annum in becoming the NFL’s first $60MM-per-year performer. As they did during seminal 2021 negotiations, the Cowboys included no-tag and no-trade clauses in their starter’s accord.

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