Goff’s contract will be up after the 2024 season, but the Lions have already started discussions toward a contract extension and reported some progress. With Goff stringing together two strong seasons since coming in a 2021 trade and positioning the Lions to make the playoffs, Spotrac projects a contract extension that will top $200 million.
Jared Goff Expected to Earn $40M Per Year
As Spotrac’s Michael Ginnitti noted, Goff is on track to earn a contract just below the top tier of the league’s quarterbacks. He predicted that Goff would align well with divisional foe Kirk Cousins, with both expected to sign new deals in the range of $40 million per year.
Ginnitti noted that at the time Goff signed his current contract with the Los Angeles Rams, his $33.5 million per year represented 17.8% of the salary cap. Under the expanded cap, that would represent $40 million per year.
“If Detroit were to sign him to a contract extension right now (not a horrible idea by the way), 17.8% of the current cap calculates to almost exactly $40M per year,” Ginnitti wrote. “Should the cap rise to $245M next March, his assumed price could rise to almost $44M per year. Let’s not overthink this and split the difference.”
Sportrac predicted that the Lions would lock Goff down with a five-year deal worth a total of $210 million with $168 million guaranteed.
The Lions have been open about their desire to reach a new deal with Goff. General manager Brad Holmes gave an update in a September interview with Dave Birkett of the Detroit Free Press, saying both side are committed to finding the right number.
“We’ve kept open dialogue with their agents in camp and I think the transparency has been good, so we’ll see how it goes,” Holmes said.
Lions Face Decision on Another Quarterback
If the Lions do end up handing Goff a long-term extension, it could force them to make another important decision. The team grabbed Tennessee quarterback Hendon Hooker in the third round of this year’s NFL draft, a highly touted quarterback that some insiders believed could be in line to take over as starter one day.
Former NFL general manager Randy Mueller believes that Goff’s outstanding season could lead the Lions to consider trading Hooker. Writing for The Athletic, Mueller noted that Hooker is still seen as a potential star, even though he is sitting out his rookie season after suffering a torn ACL in his final season at Tennessee.
“Last year during my draft prep I saw a QB who, after a full evaluation, I felt was a possible NFL starter,” Mueller wrote. “Hendon Hooker from the University of Tennessee showed me arm talent, good athletic ability, an ability to process and NFL accuracy. He threw with enough timing and anticipation that I ranked him in my top five QBs for the 2023 NFL Draft.”
Hooker’s potential, combined with Goff cementing his status as Detroit’s quarterback of the future, could motivate a team to make a trade offer for Hooker, Mueller wrote.
“Jared Goff is having an outstanding year — so much so that they almost have to extend his contract at some point soon,” Mueller wrote. “To that end, if you’re a team that had similar thoughts as I did regarding Hooker and still have doubts about your QB of the future, why not make a call to Detroit?”