Trevor Lawrence, Jacksonville Jaguars new contract resets market as Miami Dolphins, Tua Tagovailoa negotiate

The Jacksonville Jaguars and quarterback Trevor Lawrence agreed on a new contract on Thursday, according to NFL Network’s Ian Rapoport. The five-year deal is worth $275 million with $200 million guaranteed, including $142 million fully guaranteed. The $55 million per year average of the deal ties Lawrence with the Cincinnati Bengals’ Joe Burrow as the highest-valued contract in the league.

Lawrence’s new contract comes as the Miami Dolphins and quarterback Tua Tagovailoa are negotiating a new deal of their own. Tagovailoa is entering the final year of his rookie contract, a deal that will pay him $23.2 million this season. Tagovailoa was Miami’s first-round pick in 2020, the fifth-overall selection in the NFL Draft that year, assuming the starting position immediately after being selected.

In his first four seasons, Tagovailoa has thrown for 12,639 yards on a 66.9 percent completion rate with 81 touchdowns and 37 interceptions. He has a career 97.1 passer rating. In 2022, he led the league in passer rating and yards per attempt, while in 2023 he led the league in passing yards and was selected to his first Pro Bowl.

Larence was the first-overall selection in the 2021 NFL Draft, entering the league a year after Tagovailoa. In his three seasons, Lawrence has thrown for 11,770 yards with and 63.8 completion rate, 58 touchdowns, and 39 interceptions. He has a career 85.0 passer rating and was selected to the 2022 Pro Bowl.

Tagovailoa spoke to the media during the Dolphins’ minicamp last week, stating, “I’ll tell you one thing; the market is the market,” Lawrence’s deal continues to up the market as Miami and Tagovailoa continue their negotiations.

Earlier this week, we took a look at the top 15 quarterback contracts based on annual value. That analysis led to an assessment of a five-year, $268 million contract ($53.6 million per year) with $179.6 million guaranteed. Updating the table to add Lawrence into the chart, we have:

Lawrence has gone 1-1 in the playoffs in his three seasons. Tagovailoa is 0-1 in the playoffs in his four seasons. Both quarterbacks have been selected to one Pro Bowl. Tagovailoa has led the league in major passing stats in two seasons.

The new Lawrence contract may have just pushed a Tagovailoa contract from a near-top market value deal to needing to push past Lawrence’s deal.

The market may be the market – but it seems like the market may have just changed in Tagovailoa’s favor.