The Chargers and quarterback Justin Herbert have agreed to terms on a five-year, $262.5 million deal, sources told ESPN's Adam Schefter.

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The deal comes a day before the Bolts open training camp and keeps Herbert, 25, under contract in L.A. through the 2029 season. It includes a no-trade clause, $133.7 million in full guarantees and $193.7 million in injury guarantees.

Herbert becomes the third quarterback this year to agree to a blockbuster extension following new deals between the Philadelphia Eagles and Jalen Hurts (five years, $255 million) and the Baltimore Ravens and Lamar Jackson (five years, $260 million).