The Washington Football Team will enter the 2022 NFL Offseason with $62-million in cap space. With a major contract extension looming for their best player, here’s what Terry McLaurin’s next contract might look like.
Back in April of 2019, the Washington Football Team selected a “special teams ace”. A wideout that had next-level speed, yet takes pride in his physicality as a blocker.
This was Washington’s second pick from Ohio State, and while the first member of the 2019 Washington draft class didn’t pan out in Burgundy and Gold, their third member of said class out-performed expectations from Week 1 of his rookie season.
From that moment, you knew Washington had something special. You thought, “If this rookie can stack good weeks on top of one another, maybe he could be something?” Luckily for this franchise and the fans that have stuck by this team through thick and thin, Terry McLaurin has been Washington’s greatest draft pick in years.
You wouldn’t have guessed it from the moment they drafted him, but all it took was one game. Through just one game, with Case Keenum under center, you knew that something was different about the young man from Cathedral High School.
McLaurin’s three years in Washington have been spectacular. From lights-out performances in the passing game despite never having a solidified franchise QB under center, to his leadership ability that’s on display every week, so much so that he carries the “C” on his chest, Terry embodies a new on-field culture that has been needed in Washington over the last two decades.
Terry McLaurin has been one of the few “great” things about this franchise during a time when so much has gone wrong. Now with a contract extension looming, here’s what a realistic projection looks like when it comes to locking down No. 17 for the foreseeable future.
The short-term contract
From Amari Cooper’s five-year, $100-million-dollar deal, to Tyreek Hill’s three-year, $54-million dollar deal, the WR market has been all over the place. Short-term deals are becoming more and more common for the NFL’s elite pass-catchers, with star wideouts Deandre Hopkins and Cooper Kupp opting to take two and three-year deals, respectively.
So while McLaurin is more likely to take a longer-term deal due to his age and the current status of his career, we shouldn’t fully discount the possibility of a short-term contract if he’s looking to bet on himself and rake in as much dough as he can.
Entering his age-28 season by the time of his new deal, McLaurin has 2-3 seasons left at his utmost peak before *possibly* tailing off towards his mid 30’s. Though his polished route-running and emphasis on technique may slow down that process, if Terry and his agent are looking to cash in immediate checks, considering McLaurin will only make $3.8-million on his rookie deal, the short-term route may be best.
A short term deal for Terry McLaurin looks like this:
- 2-years, $44 million
- $38 million guaranteed at signing
- $22 million AAV
McLaurin’s deal at $22 million on average for two years will likely give him a cap hit in the top 10 of wide receivers over the next two seasons. However, the total cash that he’s bringing in will place him No. 1 in the NFL. For some, the thought of making McLaurin the highest-paid WR is troublesome, but it’s important to know the context inside of the deal.
The NFL salary cap and the way teams can maneuver within it, for a layman like me is both wicked yet exciting. We’ve seen it throughout the years where the cap hit is what you’re truly trying to minimize, so roster bonuses, signing bonuses and other things eat the biggest chunk of the deal to help save money against the cap.
In the case of McLaurin’s short-term deal, it may be a bit tougher to hide from that large cap hit, but it provides instant money for a player that has received so few of it since entering the NFL, while emphatically out-performing the deal. He’ll also have the fifth-highest guaranteed at signing amount in the NFL should he take a deal that resembles this one.
As mentioned earlier, I don’t believe the short-term option is best for McLaurin, as leverage for a new deal at age 30 might make it difficult for him to maximize his profits in the NFL. Remember, every player is one snap away from suffering a serious injury. Despite the limitations of the short-term deal for him and his long-term future in the league, the money he brings in immediately is tough to argue against when this option is on the table.
The long-term contract
The likelier of options between contracts looks like the long-term deal for Terry McLaurin and his representatives. Entering his age-28 season in the NFL, he’ll be approaching his 30’s in the meat of this contract. When the cap hit begins to rise is when McLaurin will be entering the later years of his career.
His comrades at the position who have signed their long-term contracts have embraced four and five-year deals to maximize financial security and comfort in the region of their choice. In addition, for players like McLaurin that have made such little money, long-term deals loaded with higher guaranteed dollars are where it’s at if you’re looking to maximize your money and your long-term security in the NFL.
For starters, there are only six receivers that have signed deals that last five seasons. From Brandin Cooks to Michael Thomas, the wide receiver market is as weird as it gets. You’d think the elite of the elite would try and combine longer deals and higher guarantees, but recently in the NFL, it hasn’t gone that way for FA wideouts. Five-year deals are becoming extinct to a point, with big-time WR’s opting instead for the three and four-year routes.
But as I’ve mentioned numerous times, some of these players were first and second-round picks, making double and triple the amount that Terry McLaurin will see over his first four seasons. McLaurin may opt for the three and four-year deal, but I’d think if the guarantees are correct on a five-year contract, he’d leap at the opportunity. So, here’s what a long-term deal looks like for Washington’s best player:
- 5-years, $101.25 million
- $65.8 million practical guaranteed
- $20.25 million AAV
This would place Terry McLaurin No. 23 in the NFL in terms of practical guaranteed dollars, but No. 1 for his position. Again, some may scoff at the fact that I’m projecting that McLaurin will (and should) be Washington’s highest-paid player and among the highest-paid wideouts in the NFL, but the facts are the facts. The production hasn’t been discussed much in this piece, but you know what it is. The off-field stuff is there. The on-field stuff is there.
For an elite WR1, this is the going rate for talents who are on that level. Whether it’s a $17-million dollar tag placed on Chris Godwin and Allen Robinson, or a new $27-million AAV contract for Deandre Hopkins, the money is flowing for elite talents at the position.
The crazy thing is, McLaurin deserves to be a part of that bunch as well. On pace for another 1,080+ yard season without a franchise quarterback, combined with the leadership ability he brings and the way he elevates the offensive talent around him, Terry is worthy of every dollar and cent imaginable to the Washington Football Team.
Washington Football Team: Insane Terry McLaurin stat underscores need to find stability at QB
This insane stat about Terry McLaurin underscores the Washington Football Team's need to find stability at the quarterback position.