The $60 Million Club: A Deep Dive Into The Highest Paid NFL Players Of 2024

As of late 2024, the financial landscape of the National Football League has been completely reshaped by a flurry of blockbuster contract extensions, pushing the Average Annual Value (AAV) for the league’s elite into unprecedented territory. The 2024 NFL salary cap surged to a record $255.4 million, paving the way for a new class of players—primarily quarterbacks—to secure deals that were once unimaginable. This article provides the most current and in-depth analysis of the highest-paid NFL players, examining the massive contracts that define the top tier of the sport's earners. The financial pecking order is now officially led by a quarterback whose recent extension has set a staggering new benchmark, creating a new "highest-paid" standard that other superstars will chase. Understanding these contracts requires looking beyond the total value and focusing on the crucial metric of Average Annual Value (AAV), which truly reflects a player's yearly earnings power.

The Elite Tier: Highest Paid NFL Players by Average Annual Value (AAV)

The AAV is the most accurate measure for determining the highest-paid players in the NFL, calculated by dividing the total contract value by the number of years. The list is heavily dominated by the quarterback position, reflecting their unparalleled importance to team success and the massive risk/reward of the position.

The Top 5 Highest Paid NFL Players (AAV) in 2024

This list is current as of December 2024, following a record-breaking offseason of extensions.

1. Dak Prescott, QB, Dallas Cowboys: $60 Million AAV

   Prescott’s four-year, $240 million contract extension, signed in 2024, officially reset the market, making him the NFL’s highest-paid player by a significant margin. The deal includes an enormous amount of guaranteed money, cementing his status as the face of the Cowboys franchise for the foreseeable future.

2. Joe Burrow, QB, Cincinnati Bengals: $55 Million AAV

   The former LSU star and Super Bowl contender signed a five-year, $275 million extension, briefly holding the title of the highest-paid player before being surpassed by Prescott. Burrow’s contract is a testament to his elite performance and the Bengals' commitment to keeping their franchise quarterback in Cincinnati.

3. Trevor Lawrence, QB, Jacksonville Jaguars: $55 Million AAV

   Drafted first overall in 2021, Lawrence quickly joined the $55 Million AAV club with a five-year, $275 million extension. His deal underscores the Jacksonville Jaguars' belief in his potential to lead the team to consistent playoff contention.

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4. Jordan Love, QB, Green Bay Packers: $55 Million AAV

   Love's unexpected rise following the departure of Aaron Rodgers resulted in a massive extension that also puts him at the $55 million AAV mark, showcasing the Packers' confidence in their new signal-caller.

5. Tua Tagovailoa, QB, Miami Dolphins: $53.1 Million AAV

   Tagovailoa's extension, reported in 2024, is a five-year deal worth $265 million. This contract represents a significant investment by the Miami Dolphins, rewarding his consistent performance and leadership in the AFC East.

Biographical Profiles of the NFL's Top Earners

The players earning the most money are often the most scrutinized. Their journeys from college stars to record-breaking professionals are part of what makes their massive contracts justifiable to their respective teams.

Dak Prescott (The $60 Million Man)

• Full Name: Rayne Dakota Prescott
• Team: Dallas Cowboys
• Position: Quarterback (QB)
• College: Mississippi State
• Draft: 4th Round, 135th overall, 2016 NFL Draft
• Career Highlights: Multiple Pro Bowl selections, NFL Offensive Rookie of the Year (2016), multiple NFC East titles. His career is defined by his high-volume passing and ability to lead America's Team.

Joe Burrow (The LSU Legend)

• Full Name: Joseph Lee Burrow
• Team: Cincinnati Bengals
• Position: Quarterback (QB)
• College: LSU (transferred from Ohio State)
• Draft: 1st Round, 1st overall, 2020 NFL Draft
• Career Highlights: Heisman Trophy winner (2019), National Championship winner (2019), Super Bowl LVI appearance, NFL Comeback Player of the Year (2021). Known for his exceptional accuracy and "Joe Cool" demeanor under pressure.

Trevor Lawrence (The Generational Talent)

• Full Name: William Trevor Lawrence
• Team: Jacksonville Jaguars
• Position: Quarterback (QB)
• College: Clemson
• Draft: 1st Round, 1st overall, 2021 NFL Draft
• Career Highlights: National Championship winner (2018), multiple Pro Bowl appearances. Lawrence was considered a "generational talent" coming out of college and has successfully led the Jaguars to the playoffs, justifying his massive contract extension signed in 2024.

The Salary Arms Race: Highest Paid Players by Position

While quarterbacks dominate the overall AAV rankings, the contracts for elite players at other positions have also skyrocketed, setting unprecedented market values for their respective roles. These deals demonstrate that teams are willing to pay top dollar for game-changing talent, regardless of position, especially for players who are considered the absolute best in the league.

The Market Leaders at Key Positions (2024 AAV)

The following players represent the ceiling for their position's value in the current NFL market, often setting new records for guaranteed money and overall contract size.

• Running Back (RB): Saquon Barkley, Philadelphia Eagles

  Barkley’s three-year, $37.75 million deal, with an AAV of approximately $12.58 million, is a significant contract for a running back in the modern NFL, a position where contracts have generally seen a decline.

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• Wide Receiver (WR): Ja'Marr Chase, Cincinnati Bengals

  Chase signed a four-year extension worth $161 million, giving him an AAV of $32.5 million, making him one of the highest-paid non-quarterbacks in the league.

• Edge Defender (DE/LB): Nick Bosa, San Francisco 49ers

  Bosa’s five-year, $170 million contract, with an AAV of $34 million, made him the highest-paid non-QB in NFL history at the time of signing. His dominance as a defensive end has made him one of the most valuable defensive players in the NFL.

• Defensive Tackle (DT): Aaron Donald, Los Angeles Rams

  Although retired, Donald's previous contract had an AAV that set the benchmark for interior defensive linemen. Currently, players like Quinnen Williams and Chris Jones are setting the new high-water mark for the position.

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• Cornerback (CB): Sauce Gardner, New York Jets

  Gardner's contract extension, with an AAV of $30.1 million, makes him the highest-paid cornerback in the NFL. His elite performance in coverage has earned him a massive deal, reflecting the premium placed on shutdown cornerbacks.

The Economics of the NFL's Mega-Contracts: A Deeper Look

The staggering figures associated with the highest-paid NFL players are not just about AAV; they are also about the total contract value and, most importantly, the guaranteed money. The guaranteed money is the true measure of a team's commitment, as it is the amount a player is guaranteed to receive regardless of injury, poor performance, or being cut.

The Role of Guaranteed Money and Cap Hit

The 2024 season has seen an escalation in fully guaranteed contracts, especially for quarterbacks. For instance, players like Joe Burrow and Trevor Lawrence have secured contracts with significant portions of their deals fully guaranteed. This shift in contract structure has become the new negotiation battleground. * Total Contract Value: This number is often the headline but can be misleading as the final years are rarely realized. Dak Prescott's $240 million total value is massive, but the guaranteed portion is what truly matters. * Cap Hit: This is the amount of money that counts against a team's salary cap in a given year. Teams often use clever contract structuring—such as large signing bonuses spread over many years—to lower the initial cap hit, allowing them to sign more talent around their highest-paid players. The $255.4 million salary cap for 2024 has given teams more flexibility to manage these massive cap hits. The contracts for the highest-paid NFL players are not merely salaries; they are strategic investments. By securing their franchise quarterbacks and elite defensive players with these record-breaking deals, teams are betting that these players are the essential keystones to Super Bowl contention. As the salary cap continues to rise, the $60 million AAV benchmark set by Dak Prescott is likely to be surpassed yet again in the coming years, continuing the fascinating and ever-evolving financial arms race of the National Football League.