Terry McLaurin is a standout wide receiver from the 2019 NFL Draft, similar to Pittsburgh Steelers wide receiver, Diontae Johnson. The wide receiver market remains scorching hot, as the Washington Commanders and their star receiver in McLaurin just signed a three-year extension that can be worth up to $71 million based on initial reports. Both players were selected in the top half of the third round.
Commanders’ Terry McLaurin is signing a 3-year extension worth up to $71 million in new money that places him amongst the NFL’s top-five highest-paid WRs, sources tell ESPN. Buddy Baker and Tony Bonagura of Exclusive Sports Group finalized deal today w/ Washington SVP Rob Rogers. pic.twitter.com/9O6nxXzNXd
— Adam Schefter (@AdamSchefter) June 28, 2022
The words "up to" in a contract can make it a little deceiving to figure out how much a player is truly expected to bring in over the course of his contract. Usually guaranteed money, specifically money guaranteed at signing, is a key factor for any player in their contract negotiations.
More details:
— Ian Rapoport (@RapSheet) June 28, 2022
Total guarantee: $53.154M
Full guarantee at signing: $34.6M
Another $12.5M guaranteed in March of 2023.
Signing bonus: $28M
Roster bonuses at the start of each league year.
$250K escalators each year except for the last year based on Pro Bowl nods. https://t.co/lBLJVrpX2d
McLaurin will get approximately half of his money guaranteed at signing, as well as another $12.5 million guaranteed next spring when he gets his roster bonus, which all of us would be shocked if he didn't receive that.
The overall new money averages out to about $23.3 million a season over the course of his new deal, which places McLaurin firmly within the top 10 for wide receivers currently.
Sources: The #Commanders and star WR Terry McLaurin have agreed to terms on a 3-year deal worth $23.3M per year new money. Another WR cashes in.
— Ian Rapoport (@RapSheet) June 28, 2022
Just as recently as earlier this off-season, it was rumored that Johnson could be targeting a contract worth approximately $15 million a season. I think it is pretty safe to say that isn't happening, as he will likely command a deal similar to McLaurin's, which mean north of $20 million. That is over a 33% increase in the yearly amount that was being rumored previously.
Things might not get better for Steeler Nation either, as another wide receiver that was drafted in the 2019 NFL Draft, D.K. Metcalf, is looking for a new deal as well currently.
There has been a frenzy of extensions being handed out to young and talented wide receivers this off-season, including but not limited to players such as Davante Adams, Tyreek Hill, Cooper Kupp, and Christian Kirk. Johnson's name definitely falls in the same range in regards to talent as some of these players, but it is hard to see the Steelers shelling out a contract of this size this summer after the recently re-singed All-Pro safety, Minkah Fitzpatrick, to a record setting extension.
Steeler Nation had some hope recently as the Las Vegas Raiders signed their Pro Bowl wide receiver, Hunter Renfrow, to a two-year extension worth a total of $32 million, an average of $16 million per season. A reasonable contract like this made it seem as though the wide receiver market may have cooled off some and the Steelers could potentially keep Johnson's contract under $20 million per season.
Unlike the Fitzpatrick signing, the Steelers missed the opportunity to get ahead of the curve and sign Johnson to a reasonable extension, possibly twice now. That leads to the thought of will the team be able to sign him to an extension at all with the increasing price tag, or will they even have the desire to invest that much money into a position with a lot of draft capital investment as well?
Pittsburgh Steelers Camp, August 2020, Diontae Johnson catches a pass over Minkah Fitzpatrick. Credit: Steelers.com
Omar Khan's first priority as the new general manager for the Steelers was obviously to sign Fitzpatrick to an extension, but Johnson shouldn't have been far behind as he has been the team's #1 wide receiver for the past two seasons and has been a key part of the Steelers offense.
Since the drafting of Johnson in 2019, the Steelers have invested three draft picks into additional wide receivers. The selections of third year wide receiver, Chase Claypool, and rookie, George Pickens, both came in the second round, and the selection of rookie, Calvin Austin III, came in the fourth round.
If the Steelers want to extend a player, and the interest is mutual, the deal is usually executed before training camp of the final year of the player's deal, which is currently less than a month away. With Khan at the helm now, that may effect how the team does things, but if this precedent changes is yet to be seen.
As with any unrestricted free agent, the Steelers will have the ability to franchise tag Johnson in 2023 if the two sides can't reach an agreement and the team wants to retain him for an additional season.
With the rising cost of wide receivers, do you want the Steelers to sign Johnson to a large extension likely exceeding $20 million a year? Let us know your thoughts in the comments below!
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