5:00pm: Sports Illustrated’s Albert Breer predicts an agreement will be reached on this front no later than the start of training camp (video link). He adds the value of a new contract could range between $30MM and $35MM annually given the current nature of the receiver market. In any case, an arrangement on a third contract (or at least progress toward one) will presumably be sought out in the near future by the Commanders.
12:31pm: Terry McLaurin is among the veteran players around the NFL absent from OTAs while seeking an extension. It appears progress at the negotiating table has been hard to come by in his case. 
McLaurin has informed the Commanders he is “frustrated” by the status of extension talks, Fox Sports’ Jordan Schultz reports. The two-time Pro Bowler has one year remaining on his contract, but it has long been known he is aiming for a new pact. An extension has also been a team priority for some time now.
As a result, many expected an agreement to be worked out between team and player. McLaurin’s importance to Washington’s offense cannot be understated, and he remained a consistent producer during the years leading up the arrival of quarterback Jayden Daniels. With the 2024 Offensive Rookie of the Year in place, McLaurin topped 1,000 receiving yards for the fifth straight year while reaching a new career high with 13 touchdowns.
The 29-year-old has already been paid out a $2.8MM roster bonus, and he is owed a $15.5MM base salary for the coming campaign. McLaurin is set to carry a cap charge of $25.5MM in 2025, and an extension (even by means of a raise) could lower that figure. The top of the receiver market has surpassed $40MM this offseason, and a total of eight wideouts average at least $30MM per year. The AAV of McLaurin’s existing deal checks in at $23.2MM.
Adding an established pass-catcher was an understandable offseason goal for the Commanders. To no surprise, then, the team brought in Deebo Samuel via trade. His pact was restructured upon arrival, but the former 49er joins McLaurin as a pending 2026 free agent. Ensuring at least the latter remains in place beyond the coming season – and thus through the remainder of Daniels’ rookie contract – would be a sound approach for general manager Adam Peters and Co. Work still needs to take place for that to be possible, however.
As Schultz notes, McLaurin departed the team during earlier voluntary work as an indication of his dissatisfaction. It will be interesting to see if he skips mandatory minicamp (set for June 10-12) or engages in a hold-in while extension talks continue.
Not the first time Washington has tried to frustrate a veteran who is seeking a deserved extension. Tagged Cousins twice before sending him off to Minnesota. Then they used the stalling tactics on Trent Richardson before dealing him to San Francisco. McLaurin will get the same treatment.
Except McLaurin has already gotten a big second contract from them before, unlike Cousins.
2 franchise tags equaling top 5 salaries of the position isn’t chump change.
I don’t think Washington was pleased they had to tag him but the other options were Colt McCoy or Tress Way so they really had no choice.
Their choice to tag Cousins. They could have let him walk.