The Minnesota Vikings could take solace in having stud wideout Justin Jefferson under contract for another season.
They also have tools at their disposal to keep the three-time Pro Bowler around for several more seasons after that.
In reality, contract situations rarely play out that way, as players prefer the security of long-term deals. They can also come with lower cap hits compared to the franchise tag.
But former Vikings general manager Jeff Diamond doesn’t believe it will come into play.
“There’s a good chance [an extension] will happen before free agency opens on March 13, giving the Minnesota Vikings salary cap savings,” Diamond wrote for 33rd Team on January 24.
“I predict the extension will come in at $172.5 million over the five new years from 2025-2029 but Jefferson’s agents will shoot for $175 million — a $35 million average in new money — and settle at $34.5 million per year.
“Expect Jefferson’s deal to include a $50 million signing bonus … and $125 million guaranteed.”
Diamond argues that Jefferson will look to be the “highest-paid non-quarterback” in the NFL. His new contract would surpass Aaron Donald of the Los Angeles Rams for average annual salary and Nick Bosa of the San Francisco 49ers for guaranteed money.
He would overtake Miami Dolphins star wideout Tyreek Hill as the highest-paid player at the position in NFL history in terms of annual value.
Such a deal would also surpass Las Vegas Raiders star Davante Adams for the largest total value.
Jefferson, 24, logged at least 1,000 yards for the fourth straight season. He reached the mark this past season despite missing seven games with a hamstring injury, leaving another early with a chest injury, and catching passes from four different quarterbacks.
But the most compelling case for extending him could be that it would lower his 2024 cap hit by roughly $10 million.
The Vikings have just under $30 million in cap space, per Spotrac, and plenty of holes to fill.
“The savings with Jefferson’s new contract will help the Vikings’ attempts to re-sign … [Kirk] Cousins and Danielle Hunter,” Diamond wrote. “Cousins will seek at least $45 million per year after his productive first eight games in 2023 and a 13-win season in 2022. Hunter will cost the Vikings around $25 million annually as the team’s most important defensive player.”
