Justin Herbert and the Los Angeles Chargers just agreed to a five-year, $262.5 million contract extension, making Herbert the third quarterback to reset the market this offseason.

Justin Herbert's reign atop the quarterback market could end at any moment.

Pro Football Talk's Mike Florio recently reported that Justin Herbert and Joe Burrow's respective camps were waiting to see who would blink first in contract negotiations.

Alas, it was Herbert who drew first blood and put ink to paper.

Justin Herbert breaks first amid Joe Burrow contract waiting game

With the start of training camp happening all across the league, there have been plenty of players holding out in hopes of signing new contracts before stepping on the field. However, both Herbert and Burrow have reported to camp since day one ready to help their teams prepare for the upcoming season. Both quarterbacks understand the value they have on their franchise and elected to avoid causing any drama and/or distractions leading up to their respective extensions.

Justin Herbert holds the record for the most passing yards by a quarterback in his first three seasons. After posting a 6-9 record in his rookie season, he has led the Chargers to nine or more wins in each of his last two seasons, including a postseason appearance in 2022. Turning 25 in March, it is safe to say that he is just beginning to scratch the surface of his powers.

Joe Burrow owes Justin Herbert after new contract

If Justin Herbert got $262.5 million before even winning a playoff game in his career, what does that mean for Joe Burrow? The Bengals have won 10 or more games in each of Burrow's last two seasons, reaching the AFC Championship in both seasons (one Super Bowl appearance). While Burrow may not have the arm talent that Herbert possesses, he is one of the best leaders and winners the NFL has to offer. Burrow trails only Patrick Mahomes and Josh Allen in passing touchdowns since 2021, with 69.

Both signal-callers were drafted in the first round of the 2020 NFL Draft and have set the league on fire since their arrival. After being drafted just a handful of picks apart, it is only fitting they get their respective bags simultaneously.

Herbert and Burrow will be compared to one another for the foreseeable future and it is great company to be in. The Chargers and Bengals are lucky to have these guys.

A Joe Burrow contract extension is officially on the clock and it will be fascinating to see what his contract ends up looking like.