Once again, another day brings another substantial investment in an NFL wide receiver. Today’s recipient of a lucrative contract extension is Jaylen Waddle of the Miami Dolphins, who has inked a three-year deal worth $84.75 million, as reported by Adam Schefter.
Waddle is merely the latest addition to the growing list of wide receivers securing new contracts in 2024. Joining him are names like Calvin Ridley, Michael Pittman Jr., DeVonta Smith, AJ Brown, and Amon-Ra St. Brown. However, this trend began last season.
In the previous year, Tyreek Hill, Davante Adams, and Cooper Kupp set the pace, each earning well over $25 million annually, with Hill leading the pack at $30 million.
Teammate to Hill, Waddle now sits just below him in average salary at $28.2 million, ranking fourth in the league, according to Spotrac. Above them are St. Brown of the Detroit Lions at $30 million and AJ Brown of the Philadelphia Eagles at $32 million.
This surge in wide receiver salaries demonstrates the market’s continuous escalation, with Waddle being the latest illustration. Despite this being his first contract after his rookie deal, he already ranks in the top five for average salary, joining the six receivers exceeding $25 million annually, a number that was only three before March.
Jaylen Waddle’s new deal continues ever-changing wide receiver market
Waddle’s new contract also places him among the receivers earning $70 million or more, a group now consisting of 15 players, four of whom have signed deals surpassing $100 million.
This is likely just the beginning, with more wideouts awaiting new deals, each subsequent signing driving up the market value. Justin Jefferson, Brandon Aiyuk, CeeDee Lamb, Ja’Marr Chase, and Tee Higgins are among those poised to reset the market with their contracts. Notably, Jefferson, Lamb, and Chase rank in the top 10 for receiving yards and touchdowns since 2021.
While Aiyuk’s stats may not match up to the others, he remains a notable contender for a new deal, boasting an average of 15.2 yards per reception.
As for Chase, although he lags behind in certain statistics, his status as WR2 in Cincinnati suggests that Waddle’s extension could set a precedent for him, much like Brown and St. Brown’s deals will for the rest.
Brown and St. Brown’s contracts have significantly impacted the market, setting new benchmarks in guaranteed money. With the demand for top pass-catchers at an all-time high, the wide receiver market is far from reaching its peak, promising even more record-setting deals in the future.
