The Lucrative World of Sports Contracts
In the exciting and financially rewarding world of professional sports, contracts are not just agreements but statements of value, trust, and long-term commitments. Here, we delve into some of the most lucrative contracts across various sports leagues and explore the athletes who have secured these eye-watering deals.
NFL’s Big Deals
The NFL continues to see astronomical contracts, showcasing the immense value of its top-tier players.
Trevor Lawrence, Jacksonville Jaguars
In 2024, Trevor Lawrence signed a monumental 5-year, $275 million contract with the Jacksonville Jaguars, with $200 million guaranteed. This deal signifies a massive commitment from the Jaguars to their star player. Lawrence led the Jaguars to an 8-8 record during the 2023 season and threw for 21 touchdowns, the second-highest tally of his career so far. Over the last two seasons, he amassed over 8,000 passing yards and 55 combined passing and rushing touchdowns, joining the elite company of Patrick Mahomes, Josh Allen, and Jared Goff.
Joe Burrow, Cincinnati Bengals
Joe Burrow’s contract, signed in 2023, ensures he remains a pivotal part of the Cincinnati Bengals for the next five years, with a deal worth $275 million, including $219 million guaranteed. In the 2022-23 season, Burrow showcased his immense value by leading the Bengals to a 12-4 record, throwing for 35 touchdowns, 12 interceptions, passing for 4,475 yards, and completing 68.3% of his passes.
Nick Bosa, San Francisco 49ers
Nick Bosa's 2023 contract, which includes $122.5 million in guaranteed money, makes him the highest-paid non-quarterback in NFL history. The San Francisco 49ers rewarded Bosa for his outstanding performance, as he earned the Defensive Player of the Year award and led the league with 18.5 sacks in the previous season.
Justin Herbert, Los Angeles Chargers
The Los Angeles Chargers secured Justin Herbert in 2023 with a 5-year, $262.5 million deal, guaranteeing 83.3% of the total contract value. Herbert, who became the most successful rookie quarterback in terms of passing yards and completions, led the Chargers to their first playoff appearance in four years. His contract's average annual value of $52.5 million is the highest in NFL history.
Lamar Jackson, Baltimore Ravens
Lamar Jackson's 2023 contract with the Baltimore Ravens, which includes $185 million guaranteed, came after a lengthy negotiation period. Jackson, who was the second unanimous selection as NFL MVP, represented himself in these negotiations.
Jalen Hurts, Philadelphia Eagles
Jalen Hurts' 2023 extension, which includes the franchise’s first no-trade clause, came with a $255 million price tag, 70.3% of which is guaranteed. Hurts aims to build on his recent success, which saw him lead the Eagles to a Super Bowl berth.
MLB’s Most Valuable Players
Shohei Ohtani, Los Angeles Dodgers
Shohei Ohtani's 2023 contract with the Los Angeles Dodgers, worth $700 million over ten years, shattered all predictions and cemented his status as arguably the best player in baseball. Despite facing an elbow injury that will sideline him as a pitcher next season, Ohtani is determined to make his first playoff appearance.
Mike Trout, Los Angeles Angels
Mike Trout's 2019 deal ensured that one of baseball’s best players remained an Angel for 12 years, with a contract worth $426.5 million. Despite injuries, Trout has managed to play 423 games and win the 2019 MVP since signing his contract, adapting and prevailing in the ever-competitive MLB.
NBA’s Record Contracts
Jaylen Brown, Boston Celtics
In 2023, Jaylen Brown signed the largest contract in NBA history at the time, worth $304 million over five years. Averaging 26.6 points per game, Brown has been instrumental in leading the Celtics to three of the last four Eastern Conference Finals alongside teammate Jayson Tatum.
Nikola Jokic, Denver Nuggets
Nikola Jokic, the reigning NBA Finals MVP, signed a max extension with the Denver Nuggets in 2022 worth $272 million, holding the record for the largest contract in NBA history until Brown's deal. Jokic’s performance reaffirmed his worth to the Nuggets, solidifying his place among the NBA’s elite.
NHL’s Distinguished Deals
Shea Weber, Nashville Predators
Shea Weber's 14-year deal signed in 2012, valued at $110 million, has seen its share of highs and lows. While Weber has been plagued by injuries, which cast doubt on his future playing status in the NHL, his contract remains a notable chapter in the league's history.
Sidney Crosby, Pittsburgh Penguins
Sidney Crosby’s 12-year, $104.4 million contract signed in 2013 ensures that the Penguins will benefit from his extraordinary skills well into his age-38 season. Despite aging, Crosby continues to perform at a high level, exemplifying longevity and excellence in the NHL.
These substantial contracts across various sports illustrate not only the financial robustness of these leagues but also the remarkable talents and dedication of the athletes involved. As sports continue to evolve, it’s certain that new record-breaking deals will follow, further pushing the boundaries of sports economics.