It's been a quality offseason for the Detroit Lions. General manager Brad Holmes locked up two cornerstone pieces in wide receiver Amon-Ra St. Brown and offensive tackle Penei Sewell by signing them to long-term extensions. New additions via the draft and free agency include cornerbacks Ennis Rakestraw Jr. and Terrion Arnold, and defensive tackle D.J. Reader. Next on Holmes' to-do list is an extension for quarterback Jared Goff, according to recent comments made.
"He's earned an extension," Holmes recently said during an appearance on 97.1 The Ticket in Detroit. "It's important, it's a high priority for us. Both sides are working really, really hard. These things just take time."
Goff is currently slated to enter the fourth and final campaign of a four-year extension worth $134 million he previously signed with the Los Angeles Rams. The Lions inherited the deal when they traded for Goff in the Matthew Stafford swap in 2021. He's scheduled to carry a manageable cap charge of $32.3 million.
Goff enjoyed an outstanding regular-season campaign in 2023. The former No. 1 overall selection completed a career-high 67.3% of his passing attempts while throwing for 4,575 yards and 30 touchdowns. Goff finished second in the league in yards and fourth in touchdowns. It was another positive step forward for Goff after he earned a Pro Bowl nod in 2022.
Goff continues to thrive under the direction of offensive coordinator Ben Johnson, who chose to return to the Lions for the 2024 season despite receiving head-coaching interest. Goff’s achievements at quarterback led to on-field success for Detroit as a whole. The Lions captured their first division title in 30 years and advanced to the NFC Championship Game. Goff is due a considerable raise as a result.
Quarterback contracts have ballooned to over $250 million. Recent extensions signed by Justin Herbert, Joe Burrow, Jalen Hurts, and Lamar Jackson all landed between $255 and $275 million. I don’t expect Goff to reach those heights, but he’s going to be one of the highest-paid quarterbacks in the league.
Goff could sign a three-year extension worth $145.5 million with approximately $75 million in guarantees. He would earn $48.5 million per season via such a proposal, making him the fifth highest-paid quarterback in the league annually. It would qualify as fair given Goff's performance ceiling in Detroit.
That would surpass contracts signed by Kirk Cousins, Kyler Murray, and Deshaun Watson. The four-year, $180 million deal Cousins signed with the Atlanta Falcons this offseason is particularly timely. Cousins will earn $45 million annually. I expect Goff to surpass that number since he's six years younger and isn't coming off a serious injury like Cousins.
Because Goff still has a year remaining on his deal, I see both sides opting for a slightly shorter extension than most quarterbacks typically sign. Both Geno Smith and Baker Mayfield, two quarterbacks in somewhat similar positions to Goff, both signed three-year extensions themselves. Goff would be signed in Detroit through 2027 under such an agreement, or his age-33 season.
Goff has revived his career with the Lions. Holmes has built a roster around him that is well-positioned for annual Super Bowl contention. The Lions should feel comfortable making a long-term financial commitment to Goff. Expect him to sign an extension that approaches $50 million annually this offseason.
