Bengals Exercise Fifth-Year Option for Quarterback Joe Burrow

The Cincinnati Bengals have picked up the fifth-year option for quarterback Joe Burrow, as announced by the team on Tuesday. This decision was made ahead of the deadline for teams to exercise options for first-round picks in the 2020 class. As projected by OverTheCap.com, Burrow’s fifth-year option will be worth $29.5 million in guaranteed money for 2024.

The Bengals have been engaged in discussions with Burrow and his representatives regarding a contract extension for the top overall pick in the 2020 draft. The team said in a statement, “This is a mechanical step along the way and we will continue to work with Joe and his representatives to secure his long-term future as a Bengal.”

Burrow has been instrumental in turning around the Bengals’ fortunes since arriving in Cincinnati as the former Heisman Trophy winner and LSU standout. He helped the team win their first playoff game in over 30 years in the 2021 season, just one year after suffering a season-ending knee injury that ended his rookie season. The Bengals went on to win their first AFC title since 1989 but fell short of securing their first Lombardi Trophy in a loss to the Los Angeles Rams in Super Bowl LVI.

Although Cincinnati lost in the AFC title game in a rematch against the Kansas City Chiefs, Burrow had his best year in the NFL. He finished 10th in total QBR and third in completion percentage over expectation, according to ESPN Stats & Information. He was also named to his first Pro Bowl, which earned him approximately $6.3 million extra salary on his fifth-year option.

The timing of Burrow’s extension is uncertain, according to Bengals director of player personnel Duke Tobin. He noted that it could be the first or last deal to get done at a time when the Bengals have notable players such as wide receiver Tee Higgins and linebacker Logan Wilson who are eligible for contract extensions. Tobin said, “Obviously, sooner is better, but we’re not going to rush the process. We’re going to try to get the right deal for Joe and for the Cincinnati Bengals.”