The market is most certainly set for top-tier wide receivers. Buffalo Bills wideout Stefon Diggs is the latest star pass catcher to cash in, agreeing to a four-year contract extension that ESPN reports is worth up to $104 million in new money. NFL Network reports that Diggs will earn at least $24 million AAV from 2024 through 2027.
Breaking down Stefon Diggs’ contract extension
Diggs, 29, had two years left on his existing contract, first negotiated with the Minnesota Vikings in 2018 and then restructured by the Bills in 2020. He was due $12.5 million in base salary this year and $12.7 million next — far below the going rate for players of his caliber.
The Las Vegas Raiders reset the market for Pro Bowl wide receivers when they gave Davante Adams a five-year, $140 million contract following a trade from the Green Bay Packers last month. The Miami Dolphins went a step forward when they awarded Tyreek Hill some $72 million guaranteed in a new deal after acquiring him via a trade from the Kansas City Chiefs.
Diggs, based on his production, deserves to be in that conversation. In 2021, he ranked eighth in the NFL in receiving yards (1,225), sixth in touchdowns (10), and ninth in receptions (103).
But his value to Bills quarterback Josh Allen could go beyond the stats. Since Diggs arrived in Buffalo in 2020, Allen has transformed into an MVP-caliber quarterback. Additionally, Diggs earned Pro Bowl recognition in each of his two seasons with Buffalo (first-team All-Pro in 2020). Allen has thrown for nearly 9,000 yards over the last two seasons with 73 touchdowns and 25 interceptions.
The gold rush for wide receivers probably will not stop here, as the 2023 salary cap projects to be sunny. A.J. Brown (Tennessee Titans), Deebo Samuel (San Francisco 49ers), and DK Metcalf (Seattle Seahawks) are among the star wideouts who want (and deserve) new deals in the coming months.