Atlanta Falcons News & Rumors

At long last, it sounds like the Falcons and wideout Julio Jones have agreed to a contract extension. ESPN’s Adam Schefter reports (via Twitter) have agreed to a three-year, $66MM extension. The unprecedented deal is fully-guaranteed and includes $64MM due at signing.

Earlier today, NFL.com’s Tom Pelissero reported (via Twitter) that the two sides were finalizing a deal that would make Jones the highest-paid receiver in the league. NFL.com’s Ian Rapoport tweeted that the deal was expected to be a three-year pact worth around $66MM.

Jones is now setting a new benchmark at the position. Saints Pro Bowler Michael Thomas leads wideouts with an average annual value of $19.25MM, following by Browns receiver Odell Beckham Jr. at $18MM. Jones had been pushing for an extension for several seasons, with his previous AAV ($14.25MM) ranking only 12th among wideouts.

Since Jones is heading into his age-30 season, his extension is a bit more complicated than the deals signed by Thomas and Beckham. Still, the nine-year pro was apparently able to set a new standard at the position, even if it’s only for a handful of years. The $64MM that’s due at signing is also a record-setter; 97-percent of Jones’ contract is guaranteed at signing, while the previous high for a non-QB (according to Schefter) belonged to Trey Flowers, who got 74-percent guaranteed at signing.

The two sides had been discussing an extension for months, with recent reports indicating that a deal was close. Jones didn’t hold out from minicamp nor training camp, while owner Arthur Blank consistently expressed optimism that they’d sign the receiver to a long-term deal. The front office has also been working on clearing up cap space, with many assuming the money would end up going to Jones.

The former first-rounder has certainly established himself as one of the best players at his position. Jones’ 7,994 receiving yards since the 2014 season are the most any player has ever compiled in a five-year span, and he finished last season with 113 receptions for a league-leading 1,677 receiving yards and eight touchdowns.

The Falcons and Julio Jones appear to be on the verge of their long-discussed extension agreement, but no deal is done. This is not a situation where the team is waiting to announce it, either, with Mike Florio of Pro Football Talk noting the sides have not finalized a contract.

Arthur Blank confirmed this new agreement will make Jones the league’s highest-paid receiver and considers the possibility of a deal not being finalized by Week 1 (and Jones perhaps missing that game) “remote.” It’s just not known by how much. Michael Thomas signed for $19.25MM per year earlier this summer.

“I’m optimistic that we’ll get something done, so I’m not going to focus on something that I consider a remote possibility,’’ Blank said of Jones missing the game, via Vaughn McClure of ESPN.com. “There’s no obstacle, per se. When you’re talking about a contract for that much money over that period of time for a premier, outstanding player, it’s just very complicated. It’s not cut and dry.”

The two-time first-team All-Pro wideout did not hold out from Falcons minicamp or training camp, so it would obviously mark a course change if Jones missed Sunday’s game against the Vikings. A new contract would eliminate any mystery here, and it sounds like there’s a better chance of Jones signing one before then than not.

Jones going into his age-30 season, his ninth in the NFL, makes this deal more complicated than the ones given to younger stars like Thomas or Odell Beckham Jr. the past two summers. But the team has been clear about wanting Julio Jones to follow Grady Jarrett and Deion Jones in Blank’s “Falcons for life” vision. The Falcons freed up $5MM in cap space earlier Wednesday, further setting the table for Jones’ next deal — expected to eclipse the $20MM-AAV barrier.