The Cincinnati Bengals have picked up quarterback Joe Burrow’s fifth-year option for the 2024 season, according to NFL Network’s Ian Rapoport.By picking up Burrow’s fifth-year option, it gives the Bengals an insurance policy if contract negotiations take longer than expected.2023 NFL Draft:How Zac Taylor is preparing for fifth draft with BengalsA.J. Green:Bengals legend will announce team's second-round draft pickIf Burrow plays the 2024 season on his fifth-year option with no long-term deal in place, he will make $29,504,000. The deadline to exercise the fifth-year option for 2020 first-round picks is May 3.What does exercising a fifth-year option mean?The fifth-year option on rookie contracts gives teams the choice to extend that deal from four years to five. It is most often used when a team wants to ensure their first-round pick remains on the team for at least one more season while allowing negotiations to continue. The fifth-year option number cannot be discussed or negotiated by a team.This prevents Burrow from becoming a free agent next March if he and the Bengals don’t come to an agreement on a long-term deal before then.A typical deal for a player who is drafted is four years when they enter the league. Only first-round picks are given a fifth-year option.The price tag is calculated based off the average of the third to 20th highest salaries at quarterback over the past five seasons. Because Burrow was named to his first Pro Bowl last season, his pay gets increased. Players who are named to one Pro Bowl are eligible for a fifth-year base salary equal to the transition tender at their position.Cincinnati and Burrow remain in the midst of contract negotiation process that will make the former No. 1 overall pick likely the highest paid player in the NFL. The Eagles recently agreed to a five-year, $255 million extension with quarterback Jalen Hurts. This becomes the floor for what the Bengals will have to give Burrow.As for where the team stands with Burrow and his representation in the process, Bengals executive vice president Katie Blackburn recently provided an update."We know we've had some preliminary discussions, but there's free agency and such," Blackburn said at the NFL's annual meetings at the end of March. "So, we'll see if we can get into it a little bit more maybe. But again, well, it's hard to say exactly what the pace (is) but we hope that there's something that can get done. We sort of said we won't talk about it much until there's something to talk about.”Burrow publicly stated his desire to play in Cincinnati for the rest of his career during the first-round of the NFL playoffs. The Bengals want to make Burrow happy while keeping a championship caliber roster arond him."My plan is to be here my whole career, and hopefully Zac (Taylor) is here my whole career," he said to NBC prior to the game against the Baltimore Ravens. Source link
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