The Arizona Cardinals signed quarterback Kyler Murray to a five-year, $230.5 million contract extension on Thursday afternoon, with a guaranteed $160 million. His $46.1 million annual salary nearly equals the Oakland Athletics’ entire 2022 payroll.
The deal will keep him in Arizona until 2028. The quarterback will be one of the highest-paid players in the NFL behind Packers quarterback Aaron Rodgers. Furthermore, if he fulfills his contract, he will become the franchise’s second-longest-tenured quarterback, trailing only Jim Hart, whose stint at the St. Louis Cardinals lasted from 1966 to 1983.
Murray joined the league in 2019. Since then, the former pitcher has improved his passer rating each season. Murray’s decision to change his career path from baseball was a “colossal mistake”, given how much more money he could make in MLB, according to sports journalist Rob Parker. However, the recent deal proved otherwise.
Murray’s stint with Cardinals
Murray was selected with the first overall pick in the 2019 NFL Draft. he led the team to year-over-year advancement after Arizona had hit rock bottom in 2018, finishing 3-13.
The Texas-native quarterback led the Cardinals to a 7-0 start before finishing 9-5 and losing to the eventual Super Bowl champion Los Angeles Rams in the first round of the playoffs. Murray was selected to his second consecutive Pro Bowl after completing 69.2 percent of his passes for 3,787 yards, 24 touchdowns, and only ten interceptions. He rushed for 423 yards and five touchdowns. Murray’s career totals are 13,266 yards, 70 passing touchdowns, and 20 rushing touchdowns.
Murray was named the Offensive Rookie of the Year in 2019. He finished in the top 15 in passing yards in all three of his seasons. He was in contention for MVP for the first half of the 2021 season before suffering a high ankle sprain, which affected the Cardinals’ season trajectory.
When it came to the 24-year-old, the Cardinals had few options. They could have waited until the end of the season to see how the two-time Pro Bowler performed before making a decision on his contract in the offseason of 2023. Arizona also could have drafted Murray or gone with another option on the roster, but doing so would keep the Cardinals in stagnation.
As a result, Murray had complete control over his contract. Murray never mentioned free agency, but coach Kliff Kingsbury expressed concerns about it earlier in June.
How Murray deal impacts current market
Murray’s contract set a new market standard for the position at $46.1 million per year. His new deal will likely impact a key contract negotiation between the Baltimore Ravens and Lamar Jackson. Murray did not receive a fully guaranteed contract like the Cleveland Browns’ Deshaun Watson (five years, $230 million), but he did secure $500,000 more than Watson.
The new benchmark for five-year deals is in the $230 million range. The Ravens now have to anticipate Jackson pursuing this goal when they negotiate a new contract. Jackson is currently the only star quarterback without a financially rewarding long-term contract. Murray’s contract could force Jackson and the Ravens to negotiate a new deal or allow him to exercise his fifth-year option.