NFL insider projects Terry McLaurin’s annual salary on next contract

After the first wave of free agency, the Washington Commanders have $12.88 million in  remaining cap space, though that figure doesn’t factor in Cornelius Lucas’ new two-year contract or Landon Collins’ cap savings ($11.88 million) given his release won’t come into effect until after June 1.

While there’s enough wiggle room to make a couple more signings of the depth and low-end starter variety, Washington’s next order of business should be extending the likes of Terry McLaurin and Daron Payne.

Before the Combine, head coach Ron Rivera revealed he planned to open extension negotiations with McLaurin and Payne. Keeping both players around for the long haul is the ultimate goal, but let’s focus on McLaurin’s future.

After all, the 2019 third-round pick is a hot topic of conversation on Twitter amid the recent receiver moment around the NFL. We’re not even going to entertain the idea of trading McLaurin, as doing so would make the franchise a less attractive destination than it already is, which is saying something.

So, what kind of contract could McLaurin get on the current market? During a recent appearance on 106.7 The Fan’s BMitch and Finlay, league insider Adam Caplan speculated on McLaurin’s expected baseline in negotiations.

What should Commanders WR Terry McLaurin make on his next contract?

"“It’s got to be at least $20 million.” Caplan said, per NBC Sports Washington. “If I’m Buddy Baker (McLaurin’s agent), the floor is $20 million. I wouldn’t take any less than $20 million. I’d probably want $22 million or $23 million.”“The above market deals ruin this thing. The Christian Kirk deal, you’re talking about a backup receiver. Zay Jones, who I talked to the Raiders about, they say he’s a No. 3 or No. 4 receiver. He’s getting $8 million a year. That’s good money for a guy who should be a backup. You see Cedric Wilson, he’s getting over $7 million to be a backup. This wide receiver money, folks, is going crazy.”"

With multiple teams around the NFL desperate to add playmakers for their young quarterbacks, the wide receiver market has skyrocketed this offseason. The position has also grown in importance over the years.

Of the final four teams left in last season’s playoffs, there were impact receivers everywhere you looked. Between Cooper Kupp, Tyreek Hill, Deebo Samuel, Odell Beckham Jr. and Ja’Marr Chase, there was no shortage of elite talents.

In McLaurin, the Commanders have an elite talent who’s averaged 1,030 receiving yards per season in spite of lackluster QB play. Since entering the NFL, his WAR (wins above replacement) is among the best at the position.

To put some perspective on Caplan’s salary projection for McLaurin, here are the NFL’s highest-earning WRs in terms of AAV.

• Tyreek Hill: $30 million
• Davante Adams: $28 million
• DeAndre Hopkins: $27.25 million
• DJ Moore: $20.628 million
• Keenan Allen: $20.025 million
• Mike Williams: $20 million
• Amari Cooper: $20 million
• Michael Thomas: $19.25 million

Let’s call it like it is, folks. If Moore and Williams are entrenched in that group of superstars, you better believe McLaurin deserves to be in there as well. It also matters that Moore and Williams are former first-round picks.

As a third-rounder, McLaurin has earned a shade over $3 million over his three seasons. Williams has already made $19.75 million as a former No. 7 overall pick, whereas Moore has pocketed $11.17 million as a former No. 24 overall pick.

While Moore’s technically been more productive than McLaurin, the Commanders might have to go that extra mile to convince the Ohio State product to make a long-term commitment to the franchise. In other words, McLaurin shouldn’t accept anything less than something in the range of $21-23 million per year, so Caplan’s insight could end up being spot on.