Denver Broncos’ star cornerback Patrick Surtain has agreed to a four-year, $96 million contract extension, solidifying his status as the highest-paid cornerback in the NFL. The deal, which includes $77.5 million in guaranteed money, was reported by veteran NFL insider Jordan Schultz and marks a significant shift in the NFL’s cornerback market. Surtain’s extension surpasses Jaire Alexander’s 2022 deal with the Green Bay Packers, giving him a $3 million advantage in annual average value (AAV).
The Broncos, who picked up Surtain’s fifth-year option worth $19.8 million earlier this year, have now ensured that the 2022 All-Pro cornerback will be with the team through the 2029 season. This extension comes after Surtain has proven himself as one of the league’s elite defenders, earning two Pro Bowl nods and a first-team All-Pro selection in just three seasons. Despite trade rumors and offers from other teams, Denver made it clear that Surtain is a cornerstone of their defense under new head coach Sean Payton.
The extension locks in Surtain’s base salaries for 2024 and 2025, with a $15 million signing bonus and additional bonuses that could see his earnings rise substantially. This includes a $10 million option bonus in 2026, a $7.63 million base salary for that year, and a $17 million salary in 2027. His 2028 salary is partially guaranteed, set at $19.49 million, with his 2029 compensation projected to reach $23.49 million.
Surtain’s deal moves the cornerback market closer to the high salaries commanded by wide receivers, narrowing the gap that has widened over the past decade. However, the disparity still remains significant, with 12 wide receivers currently earning more than Surtain. The Broncos’ decision to extend Surtain early also serves as a strategic move to establish financial stability as they build for the future, especially with the possibility of larger contracts for upcoming cornerbacks like Sauce Gardner and Derek Stingley Jr., who will become extension-eligible in 2025.
Surtain’s success has validated Broncos GM George Paton’s decision to draft him over quarterback Justin Fields in 2021, and the move continues to pay off as Denver builds a defense anchored by one of the NFL’s top cornerbacks. The Broncos have shown their commitment to Surtain as a long-term leader of their defense, setting a new standard in cornerback contracts and establishing him as a crucial part of their plans for the future.
