Burrow's new contract extension makes him the highest-paid player in NFL history on an annual basis at $55 million per year.
"Means a lot," Burrow said on Saturday in a press conference, per the team's official website. "I work really hard to perform well on the field and think a lot about how I handle myself and how I can be the best me for this organization. And so to be rewarded for that, it means a lot to me. But, a lot more to do."
In his first three seasons under center in Cincinnati, Burrow has thrown for 11,774 yards, 82 touchdowns and 31 interceptions in 42 games. Within those three years, Burrow led the Bengals to two consecutive AFC Championship Games and a Super Bowl trip in 2021. It's not a surprise the Bengals locked in Burrow as their franchise quarterback for the foreseeable future in Cincinnati.
"My father always said that in the NFL, the quarterback is like the key to your car," Bengals owner and president Mike Brown said in a statement. "You can have a great car, but you need a key to get the car going and to operate it at a high level. We feel that we have a good one in Joe.
"Our franchise has been fortunate to have many good quarterbacks over the years, starting with Greg Cook and now running through Joe. Half a dozen Pro Bowl quarterbacks have graced our corridors, and Joe is an intelligent player who loves the game of football. The franchise is pleased to be in good hands."
The 26-year-old Burrow had a lengthy offseason waiting for the right moment to sign a new deal. Burrow saw other quarterbacks around the league get new extensions. Philadelphia Eagles' Jalen Hurts secured a five-year, $255 million extension, Baltimore Ravens' Lamar Jackson signed a five-year, $260 million contract and Los Angeles Chargers' Justin Herbert inked a five-year, $262.5 million deal.
Burrow's football journey is one that many NFL quarterbacks encounter. He spent his first three college seasons at Ohio State, Burrow played in 10 games for the Buckeyes. In 2018, he decided to transfer from Ohio State to LSU. Burrow played his junior year throwing for 16 touchdowns and five interceptions. It wasn't until his senior year as a Tiger, that Burrow threw for 5,671 passing yards, 60 touchdowns and six interceptions, securing the Heisman Trophy.
Despite his success at LSU and being drafted No. 1 overall in 2020, Burrow remains motivated to redeem himself after his experience as a Buckeye.
"I had some unfinished business in Ohio. My one athletic failure so far in my opinion is my time at Ohio State," Burrow said. "I didn't get to play. To come back and kind of redeem myself in that way has been important to me."