On December 16, 1945, in the 1945 NFL Championship Game, Waterfield led the Rams to a 15–14 victory over Sammy Baugh's Washington Redskins in below zero weather in Cleveland. One sports writer opined that Waterfield "literally" beat the Redskins "singlehanded." Waterfield was responsible for both Cleveland touchdowns on passes of 37 and 44 yards, and his punts kept the Redskins pinned deep in their territory. Rams owner Dan Reeves announced that, before the game, Waterfield had signed a three-year contract for $20,000 per year, which made him the highest-paid player in pro football.