The Seahawks didn’t waste time extending their star wide receiver, as the organization inked Jaxon Smith-Njigba to a record-breaking contract this morning. We learned that the four-year, $168.6MM deal would reset the position’s average annual value ($42.15MM) and guarantees ($120MM). Thanks to Mike Florio of ProFootballTalk.com, we’ve got more details on the pact.
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The receiver will earn modest base salaries in both 2026 ($1.25MM) and 2027 ($1.53MM) before seeing a significant jump in 2028 ($18.83MM). That number will increase to $19.9MM in 2029, $32.2MM in 2030, and $37.7MM in 2031. The 2028 and 2029 base salaries are guaranteed for injury at signing, and they’ll become fully guaranteed on the fifth day of their respective year’s waiver period.
Secondly, the contract contains lucrative option and roster bonuses. It starts with a $30MM fully guaranteed option bonus for 2027, followed later by a $10MM option bonus in 2029 (guaranteed for injury and fully guaranteed on the fifth day of 2028 waiver period). Smith-Njigba will also earn a $3MM 2031 offseason roster bonus (due on the fifth day of the 2031 league year). And, to top it off, the Seahawks handed the WR a $35MM signing bonus.
The extension is also full of workout bonuses and per-game incentives. The WR will earn $250K workout bonuses each season from 2026 through 2031. The 2026 and 2027 bonuses are fully guaranteed but must be earned, while the 2028 and 2029 bonuses are guaranteed for injury and will become fully guaranteed on the fifth day of the respective year’s waiver period. Smith-Njigba also has consistent $850K per-game roster bonuses (total) between 2027 and 2031. The 2027 incentive is fully guaranteed and must be earned, while the 2028 and 2029 bonuses are guaranteed at signing and will be fully guaranteed on the fifth day of the respective year’s waiver period.
As Florio points out, the contract comes out to $195MM in earnings over the next six years. That would equal out to a $32.5MM AAV, but the new money represents the record-breaking annual average. In terms of guarantees at signing, Florio adds the contract brings $69.13MM. That sits third at receiver — behind Justin Jefferson ($88.7MM) and Ja’Marr Chase ($73.9MM).
The former first-round pick still had two years remaining on his rookie contract (by virtue of the fifth-year option), and the Seahawks were eager to capitalize on those inexpensive commitments before truly breaking the bank over the following four years. It will be interesting to see if teams follow this trend vs. waiting for their WR to complete their fourth season before extending, as the Bengals did with Chase and the Cowboys did with CeeDee Lamb. Only four first-round receivers in the fifth-year option era have signed post-Year 3 extensions.
If you just take 4 years, 168.5 at face value, JSN’s AAV compared to next year’s cap is a (very) slightly lower percentage of the cap than Chase’s was going into the season following his signing. It’s worth considering these things when you talk about record setting or precedents, because the cap has gone up a lot in recent years, and it’s going to shoot up a lot in the next few.
Record breaking but more importantly, it is team friendly for the next few years so the CAP space can be used to keep & build a competitive SB contender. The CAP hit goes up in two years, but the team is looking to see the allowed CAP increase enough to absorb it. This is a big deal.
Props to JSN for understanding that it’s harder for a team to win if he takes a huge chunk of the cap
taking less money for these 2 years is going to really help the team lock down Witherspoon and maybe sign some free agents