Brock Purdy's new contract should end up being NFL's next biggest bargain

$50 million per season might actually be... cheap.
San Francisco 49ers quarterback Brock Purdy (13)
San Francisco 49ers quarterback Brock Purdy (13) | Scott Taetsch/GettyImages

$50 million per year is expensive for Brock Purdy. But, in light of other quarterback deals on the horizon, it's likely going to be a bargain.

San Francisco 49ers quarterback Brock Purdy is going to be an expensive bargain.

Yes, that sounds contradictory. But, if one steps back from the presumed $50 million per-year extension he'll likely sign with the Niners in the not-too-distant future, it's not hard to see why that's an awfully affordable figure.

Sure, you can question all day whether or not the final pick from the 2022 NFL Draft is worth $50 million per. Heck, even former NFL cornerback Patrick Peterson told Kay Adams on the Up & Adams Show that he didn't think Purdy was worth that much.

But, in the same conversation, Peterson admitted that's the going rate for quarterbacks these days, even slotting Purdy above the Jacksonville Jaguars' Trevor Lawrence and his $55 million annual average.

Currently, here are the 10 highest-paid signal callers, according to per-year average:

  1. Dak Prescott, Cowboys -- $60 million
  2. Josh Allen, Bills -- $55 million
  3. Joe Burrow, Bengals -- $55 million
  4. Trevor Lawrence, Jaguars -- $55 million
  5. Jordan Love, Packers -- $55 million
  6. Tua Tagovailoa, Dolphins -- $53.1 million
  7. Jared Goff, Lions -- $53 million
  8. Justin Herbert, Chargers -- $52.5 million
  9. Lamar Jackson, Ravens -- $52 million
  10. Jalen Hurts, Eagles -- $51 million

Those are the lone quarterbacks making north of $50 million per season, and there's an understandable debate why Purdy belongs in that crop after being a 2023 MVP finalist and setting multiple franchise records that season.

In contrast, others would argue Purdy's down year in 2024 is a truer indication of his abilities, thereby lessening his overall value.

Either way, should Purdy command a contract in the $50 million-plus range, it could actually end up being a massive bargain.

Why Brock Purdy extension is likely to become a bargain for 49ers

Remember back in 2020 when the Kansas City Chiefs inked quarterback Patrick Mahomes to a 10-year, $450 million deal? The internet nearly broke, of course, when that happened.

But, in the long run, the greatest quarterback of this generation has turned into a relatively cheap commodity. His $45 million annual average doesn't even crack the top 10 now (it's currently 14th), meaning KC is getting a bigger bargain on a year-to-year basis with the NFL salary cap ballooning every offseason.

Speaking of salary cap, it's projected to be $300 million in 2026, up nearly $21 million from the $279.2 million, currently. And it's reasonable to assume the 2027 cap would jump as high as $325 million, too, when new TV and streaming revenue agreements fall into place.

Back to Purdy, a $50 million per-year average would take up just 16.7 percent of San Francisco's cap space in 2026 (pull out the calculator on your phone and double-check the work), which is notably affordable.

Plus, with other young quarterbacks like the Washington Commanders' Jayden Daniels on the ascent, they'll likely soon cash in on deals that'll hit $60 million per year or more when they become eligible.

So, from that vantage point, and not unlike Mahomes' current contract now, Purdy could end up being a notable bargain for the 49ers in the not-so-distant future.

Contractual and cap numbers, courtesy of Over the Cap unless otherwise indicated.

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