As the San Francisco 49ers finalize a long-term deal with quarterback Brock Purdy, the landscape of the NFL quarterback market is experiencing notable shifts. Currently, it appears that no other quarterbacks are poised to secure similar long-term contracts in the near future. This development raises questions about potential adjustments to existing contracts, particularly regarding Patrick Mahomes.
Given the recent restructuring of Josh Allen's contract, which was replaced with a lucrative $55 million-per-year deal, speculation is rife that Mahomes may also see some modifications in his ultra-long-term contract. These changes could set a new benchmark, yet for now, no other quarterbacks are awaiting their first significant payday.
The next quarterback likely to land a new deal is C.J. Stroud of the Houston Texans. He will become eligible for a contract extension after the conclusion of the 2025 regular-season finale. This timeline allows the Texans to negotiate a new deal between Week 18 and the playoffs, contingent on whether they qualify for postseason play.
Despite the option for a fifth-year extension, it seems unlikely that the Texans will follow the Dallas Cowboys strategy of delaying negotiations through a cheaper fourth year. The team has recently shown a willingness to invest in talent, as evidenced by their contract with cornerback Derek Stingley Jr., who received an extension after just three seasons. Stroud's position among the highest-paid quarterbacks remains uncertain, but with a superior offensive line and an overall improved offensive strategy, he could find himself earning a spot among the elite.
As the salary cap continues to rise, the market for quarterbacks is expected to expand as well. Currently, Purdy's recent contract places him in a tie for the seventh position among the highest-paid quarterbacks. Stroud’s improved performance could position him to negotiate a deal that falls between Josh Allen and Dak Prescott, both of whom are in the vicinity of $55 million in new-money average.
Looking beyond Stroud, the future for other quarterbacks from the 2023 draft class appears less promising. Bryce Young of the Carolina Panthers could potentially secure a second deal if he has a breakout season. Meanwhile, Anthony Richardson of the Indianapolis Colts must first earn the starting role to be considered for a new contract. The remaining quarterbacks from this draft class, including Will Levis, are not expected to command significant financial deals anytime soon.
In the interim, several quarterbacks currently in their second contracts are eyeing third deals. Lamar Jackson of the Baltimore Ravens may seek a contract adjustment, especially after being positioned at No. 10 in new-money average. Similarly, Jalen Hurts of the Philadelphia Eagles has also fallen out of the top 10, and Joe Burrow is currently earning as much as Trevor Lawrence and Jordan Love.
The ongoing negotiations and contract developments underscore the dynamic nature of the quarterback market in the NFL. While the recent deal for Purdy may temporarily pause the rush for new contracts, the potential for Mahomes, Jackson, and others to seek renegotiations remains an ever-present factor. As training camps approach, the landscape will undoubtedly continue to evolve.
