Hogs Haven
The details of Terry McLaurin’s contract extension are now publicly available, and, as most knowledgeable NFL observers had expected, the deal is not as clearly lucrative as Monday’s reporting would have indicated. Yes, the extension adds 3 years and more than $96m to McLaurin’s existing deal, but the guarantees are modest and the opportunities for the Commanders to save cap space by cutting or trading Terry in either of the final two years of his contract offer a great deal of flexibility to the team.
The average annual value of the extension is consistent with the rest of the top-tier receiver contracts we’ve seen recently and McLaurin can look forward to solid cash flows in 2025 and 2026, but little certainty beyond that.
All of the details on this contract extension were sourced from Over the Cap, which is, in my opinion, the best and most reliable source of information about NFL player contracts available to the general public.
What you see below is the final year(s) of Terry McLaurin’s 2022 contract extension (2025 + 2026 void year) above the blue line.
Below the blue line is his new extension, which he signed this week.
The key figures to focus on from Terry’s 2022 contract extension are:
There’s a LOT to take in on this new extension, but what’s clear is that the $96m we heard reported on Monday was more aspirational than practical as the guarantees in this contract are quite limited.
Signing bonus
The current extension includes a $30m signing bonus which is prorated at $6m per year for 5 years (including the new void year of 2029 when Terry will be 34 years old).
Other 2025 compensation
As I indicated above, the guarantees in this contract are quite limited in comparison to the guarantees we’ve seen in other top-tier WR extensions recently.
McLaurin’s total guaranteed money at signing is $44.65m:
Remembering that $13.75m of this guaranteed money comprises conversion of Terry’s 2025 base salary, the NEW MONEY guaranteed at signing is $30.9m.
2026 Option
There is a $10m option payment to...
