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.
Extending Justin Jefferson Could Help Vikings Keep Kirk Cousins, Danielle Hunter
GettyJustin Jefferson #18 and Kirk Cousins #8 of the Minnesota Vikings.
“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.”
Cousins will count for $28.5 million against the cap next season due to void years on previous contracts. But Jefferson has said he wants Cousins back next season. Hunter, meanwhile, recorded a career-high 16.5 sacks en route to the fourth Pro Bowl selection of his career.
Minnesota has several candidates to be cut or have their contracts restructured.
That leaves the Vikings with a path to an additional $40 million in cap space, per The Athletic’s Alex Lewis on January 23.
In addition to his Pro Bowl trips, Jefferson is a one-time All-Pro and the 2022 NFL Offensive Player of the Year. His production has afforded him a level of comfort despite the matter being unresolved.
Justin Jefferson Wants New Contract With Vikings
GettyGeneral Manager Kwesi Adofo-Mensah of the Minnesota Vikings.
“Of course, I will want a contract to be done. But at the end of the day, it’s all up to them and what the ownership want to do,” Jefferson told reporters in September. “That’s up to them. My focus is on playing football and doing something that I’m good at. So, I’m good at being on that field and catching the football, and that’s what I continue to do.”
The Vikings engaged with Jefferson’s representatives about an extension before last season. And General Manager Kwesi Adofo-Mensah said that he is looking forward to resuming talks this offseason.
There has been some external doubt about whether or not ownership will open up the checkbook, though. They did trade Stefon Diggs to the Buffalo Bills.
But Diggs’ situation had a lot to do with his relationship with the coaching staff. This is a different staff and front office regime. In that regard, Adofo-Mensah’s public stance on Jefferson – who was selected with a pick received in the Diggs trade – is notable.
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Former Vikings GM Predicts Record-Setting Contract for Justin Jefferson