According to a report by Aaron Wilson of The Houston Chronicle, Watson could earn more than $40 million guaranteed per year on his next deal. In fact, he could earn between $40-to-$42 million guaranteed per season.
To put into perspective, the current highest average annual value for a contract is $35 million for the Seattle Seahawks' Russell Wilson. The record for guarantees is $110 million, set by the Los Angeles Rams' Jared Goff last year.
Watson has established himself as one of the top quarterbacks in the NFL at a very young age. Despite being just 24 years of age, he's already led the Texans to two playoff appearances in both of his seasons as a starter. In fact, he's also notched two Pro Bowl appearances while proving himself as a dual-threat quarterback.
While there's no doubt that Watson is the franchise quarterback in Houston, the team does lack salary cap space. They have slightly under $16 million in total salary cap space for the upcoming season. This is largely due to the recent three-year, $66 million deal they gave to tackle Laremy Tunsil this offseason.
According to Joel Corry of CBS Sports, Watson could earn $200 million over four or five seasons. Which would give him an average annual salary between $40 and $50 million.
With fellow 2017 NFL draftee Patrick Mahomes due to earn a similar type of deal, both young gunslingers will definitely reset the market for contracts.