Since being selected as the No. 6 overall pick in the 2020 NFL Draft and winning Rookie Offensive Player of the Year honors, Justin Herbert has solidified his place as a top-tier talent.
In 2023, he secured a substantial contract extension with the Los Angeles Chargers, making him one of the highest-paid athletes in the league. Let’s take a look into the specifics of Herbert’s contract, his 2024 salary, and his overall net worth.
Justin Herbert’s 2024 Deal
In 2023, Herbert signed a monumental five-year, $262.5 million extension with the Chargers. The deal included a hefty $16 million signing bonus and a staggering $218 million guaranteed.
For the 2024 season, Herbert’s base salary is set at $6 million, complemented by a significant signing bonus of nearly $51 million. This positions him among the top-paid players in the NFL, ranking sixth among quarterbacks. He trails right behind prominent names like Jared Goff of the Detroit Lions and Tua Tagovailoa of the Miami Dolphins.
Despite Herbert’s remarkable individual performance, his winning record and playoff success have been relatively modest. To incentivize success, the Chargers have included performance-based bonuses in his contract. Specifically, Herbert stands to earn an additional $1.25 million for each milestone he achieves: an AFC Conference Championship or a Super Bowl victory.
Moreover, Herbert’s contract includes fully guaranteed option bonuses amounting to $50.6 million for 2024 and $45 million for 2025. Both of these salaries are fully guaranteed at the time of signing, underscoring Los Angeles’ commitment to its star quarterback.
What Is Herbert’s Net Worth and Career Earnings?
While Herbert’s precise net worth is uncertain, estimates suggest it hovers around $25 million. A substantial portion of this wealth is obviously derived from his contract with the Chargers, but Herbert’s financial success extends beyond his salary.
Herbert has secured endorsement deals with several high-profile brands, including Nike, Bose, Head & Shoulders, Subway, Chipotle, eSports, and FedEx.
Additionally, SoFi, the naming sponsor of the Chargers’ stadium, has entered into a multi-year partnership with Herbert. His brand portfolio also features agreements with TCL, Callaway Golf, Dr. Squatch, Fanatics, Panini, and Verizon, among others.
Forbes estimates that Herbert’s endorsement deals contribute approximately $11 million to his annual income. This impressive array of partnerships highlights his marketability and appeal beyond the football field.
In summary, Herbert’s financial success reflects his status as one of the NFL’s top quarterbacks. With a substantial contract, multiple large endorsements, and performance incentives, he’s well-positioned for continued prosperity both on and off the field.
As his career progresses, it’s likely that Herbert’s net worth and influence will only grow, further solidifying his place among the elite in professional sports.