Agent’s Take: Inside 15 notable NFL offseason contracts

It was a seller’s market when the two-day negotiating window ahead of the start of free agency opened on March 9. According to ESPN’s Adam Schefter, players collectively signed contracts worth $5.83 billion during this negotiating period and the initial days of free agency.

Structure is everything with NFL contracts. Unlike MLB and the NBA, fully guaranteed contracts are the exception, not the rule.

Details on 15 noteworthy contracts from the early part of the NFL offseason are below. Average yearly salary and total compensation are the most common contract metrics but most insignificant because of the lack of security with NFL contracts. The overall contract guarantees, amount fully guaranteed at signing and the earliest realistic contract exit point for the team are also highlighted with each player. The deals are listed in order by average yearly salary.

Daniel Jones, QB, Colts

• Contract value: $88 million/2 years ($44 million-per-year average)
• Contract guarantees: $60 million ($44 million as signing bonus)
• Fully guaranteed at signing: $49.4 million
• Earliest realistic exit point: 2027 ($50 million earned)

Jones received the seldom-used transition tag for $37.833 million to ensure that he remained with the Indianapolis Colts for at least the 2026 season despite the right Achilles tear he suffered in a Week 14 loss to the Jacksonville Jaguars last season. The transition tag gave the Colts matching rights if Jones signed an offer sheet with another team.

Jones’ contract demands raised some eyebrows when they were made public. The Colts initially offered Jones a contract similar to the three-year, $100.5 million deal worth up to $115.5 million through incentives Sam Darnold signed with the Seattle Seahawks in free agency last March. Jones’ camp countered with a long-term deal in the $50 million-per-year neighborhood.

Jones’ deal is worth up to $100 million thanks to $6 million of incentives in each year. He gets $100,000 for each regular-season win in which he takes at least 50% of the offensive snaps. There’s $550,000 based on Jones’ regular-season playtime and the Colts making the playoffs. Jones has $100,000 each at the 50%, 60%, 70% and 80% thresholds with additional $150,000 at 90%. Another $750,000 is separately based on Jones’ playtime and the team’s success. It’s $250,000 each for making the playoffs, winning 10 or more regular-season games and winning the AFC South provided Jones’ playtime is at least 75%. Jones also has $500,000 each for winning a wild card, divisional round playoff game and the conference championship game as long as he has a minimum of 50% offensive playtime in the game. Winning the Super Bowl is worth an additional $1 million with the same individual offensive playtime requirement. Finally, there’s $500,000 for being a named first-team All-Pro or $250,000 for second-team All-Pro.

Jaxon Smith-Njigba, WR, Seahawks

• Contract value: $168.6 million/4-year extension ($42.15 million-per-year average)
• Contract guarantees: $120,067,996 ($35 million as signing bonus)
• Fully guaranteed at signing: $69,130,996
• Earliest realistic exit point: 2030 ($120,067,996 total/$93.5 million new money earned)

Smith-Njigba put the Seahawks on notice with his contract demands shortly after Seattle won Super Bowl LX. He proclaimed that he should be the NFL’s highest-paid wide receiver. It just happened with Smith-Njigba raising the bar for wide receiver salaries to $42.15 million per year.

Smith-Njigba is the first player taken in 2023’s first round to get a contract extension. That’s a major departure for the Seahawks. Smith-Njigba is the only Seattle first-round pick to get a new deal after three NFL seasons since the 2011 NFL collective bargaining agreement implemented the rookie wage scale. First-round picks Ja’Marr Chase and Justin Jefferson had to play four NFL seasons before becoming the league’s highest-paid wide receiver, respectively, with the Cincinnati Bengals and Minnesota Vikings.

The Seahawks typically don’t sign players to extensions with two years remaining on a contract like Smith-Njigba had. Another accommodation was made for Smith-Njigba that never happened with quarterback Russell Wilson in his two contract extensions that made him the NFL’s highest-paid player in 2019 and second in the league’s pay scale in 2015 by fully guaranteeing money at signing in the second contract year. The $32,630,996 Smith-Njigba is scheduled to make in 2027 is fully guaranteed at signing.

Smith-Njgiba’s deal is front-loaded. He gets 25.2% of his new money, which is $42.563 million, before playing any of his new contract years. A neutral four-year deal or extension that’s neither front-loaded or back-loaded would have 25% of the new money through the first new contract year. Smith-Njigba has 37.1%, which is $62.5 million, of his new money through his first new contract year in 2028. By comparison, Green Bay Packers edge rusher Micah Parsons, who is the NFL’s highest-paid non-quarterback with his four-year, $186 million extension, averaging $46.5 million per year, has $62 million of new money through his first new contract year (2027).

Danielle Hunter, Edge, Texans

• Contract value: $40.1 million/1-year extension ($40.1 million-per-year average)
• Contract guarantees: $62.2 million ($30.7 million as signing bonus)
• Fully guaranteed at signing: $62.2 million
• Earliest realistic exit point: None ($63.2 million total/$40.1 million new money earned)

Hunter took advantage of the dramatic changes in the edge rusher market since signing a one-year, $35.6 million extension last March. At $40.1 million per year, Hunter is the league’s fourth-highest-paid edge rusher behind Parsons ($46.5 million per year), Aidan Hutchinson ($45 million per year) and T.J. Watt ($41 million per year). The 12.64% increase over the one-year extension he signed last year exceeds the growth in the salary cap. The current $301.2 million salary cap is 7.88% more the $279.2 million 2025 figure.

Trent McDuffie, CB, Rams

• Contract value: $124 million/4-year extension ($31 million-per-year average)
• Contract guarantees: $100 million ($14 million as signing bonus)
• Fully guaranteed at signing: $50 million
• Earliest realistic exit point: 2030 ($107.5 million total/$93.868 million new money earned)

The Kansas City Chiefs continued their philosophy of not paying big money to cornerbacks by trading Trent McDuffie, who was entering a contract year, to the Rams. McDuffie was acquired from the Chiefs for a 2026 first-round pick (29th overall), a 2026 fifth-round pick, a 2026 sixth-round pick and a 2027 third-round pick. 

The Rams giving up significant draft capital to address the defense’s biggest weakness — pass coverage — provided McDuffie enough negotiating leverage to become the NFL’s highest-paid cornerback at $31 million per year with a player friendly structure. 

McDuffie’s $100 million in guarantees are the most ever for a cornerback. His salary guarantees in the later years of the contract vest early. McDuffie’s injury guaranteed $26.32 million 2028 base salary becomes fully guaranteed on the fifth day of the 2027 league year. His $22.32 injury guarantee with his $29.82 million 2029 base salary works in a similar manner. This $22.32 million will be fully guaranteed on the fifth day of the 2028 league year.

Laremy Tunsil, OT, Commanders

• Contract value: $60.2 million/2-year extension ($30.1 million-per-year average)
• Contract guarantees: $61.5 million ($32.5 million as signing bonus)
• Fully guaranteed at signing: $52.655 million
• Earliest realistic exit point: 2028 ($62.295 million total/$43.195 million new money earned)

Laremy Tunsil, who represents himself, became the NFL’s first $30 million-per-year offensive lineman. He was also the first offensive lineman to hit the $20 million-per-year and $25 million-per-year marks in 2020 and 2023, respectively. His preference has been to sign shorter term deals (no longer than three-year extensions) so he can continually reap the benefit of changing market conditions. If Tunsil continues to play at a high level, he will be in line for another big payday in 2028 when he is 33.

Jaelen Phillips, Edge, Panthers

• Contract value: $120 million/4 years ($30 million-per-year average)
• Contract guarantees: $90 million ($35 million as signing bonus)
• Fully guaranteed at signing: $60 million
• Earliest realistic exit point: 2029 ($90 million earned)

Phillips bouncing back in 2025 from two straight injury-plagued seasons led to his payday. He had played eight games in 2023 when a right Achilles tear ended his season. Phillips tore his right ACL four games into the 2024 season. He played 17 games in 2025.

Phillips’ deal is 57.1% more than the top edge rusher contract in 2025 free agency. Josh Sweat received a four-year, $76.4 million deal, averaging $19.1 million per year with $41 million in guarantees, where $38 million was fully guaranteed at signing, from the Arizona Cardinals last March.

Alec Pierce, WR, Colts

• Contract value: $114 million/4 years ($28.5 million-per-year average)
• Contract guarantees: $84 million ($15 million as roster bonus)
• Fully guaranteed at signing: $60 million
• Earliest realistic exit point: 2029 ($87 million earned)

The Colts were able to keep Pierce in the fold despite other teams having him as a top free agent target. Pierce reportedly left some money on the table to remain in Indianapolis. 

Trey Hendrickson, Edge, Ravens

• Contract value: $112 million/4 years ($28 million-per-year average)
• Contract guarantees: $60 million ($20 million as signing bonus)
• Fully guaranteed at signing: $60 million
• Earliest realistic exit point: 2028 ($60 million earned)

The Ravens pivoted to Hendrickson after pulling out of a trade to acquire edge rusher Maxx Crosby from the Las Vegas Raiders for 2026 (14th overall) and 2027 first-round picks. There were medical concerns about Crosby’s surgically repaired left knee. Incentives based on Hendrickson’s sacks each year make the deal worth as much as $120 million.

Tyler Linderbaum, Center, Raiders

• Contract value: $81 million/3-year extension ($27 million-per-year average)
• Contract guarantees: $81 million ($20 million as signing bonus)
• Fully guaranteed at signing: $60 million
• Earliest realistic exit point: None ($81 million earned)

It was assumed that Tyler Linderbaum would become the NFL’s highest-paid center in free agency. Nobody expected Linderbaum to reset the center market by a whopping 50%. The previous standard was the four-year, $72 million contract extension, averaging $18 million per year, Creed Humphrey received from the Kansas City Chiefs during the 2024 preseason.

Linderbaum apparently had his sights set on becoming the league’s highest-paid interior offensive lineman. That was Dallas Cowboys offensive guard Tyler Smith, who signed a four-year, $96 million extension, averaging $24 million per year, in September shortly after the 2025 regular season started.

The entire $81 million is practically fully guaranteed. Linderbaum’s injury guaranteed $21 million base salary in 2028 becomes fully guaranteed next March on the third day of the 2027 league year. Linderbaum also has a clause in his contract preventing the Raiders from designating him as franchise or transition player in 2029.

Odafe Oweh, Edge, Commanders

• Contract value: $96 million/4 years ($24 million-per-year average)
• Contract guarantees: $68 million ($26 million as signing bonus)
• Fully guaranteed at signing: $50.6 million
• Earliest realistic exit point: 2029 ($74 million earned)

The Commanders are counting on Oweh to upgrade a pass rush that suffered after edge rusher Dorance Armstrong was lost to a torn right ACL seven games into the 2025 season. It will be money well spent if the Commanders get the Oweh who had 7.5 sacks in 12 games after the Los Angeles Chargers acquired him from the Baltimore Ravens and an additional three sacks in a wild card playoff game loss to the New England Patriots.

Malik Willis, QB, Dolphins

• Contract value: $67.5 million/3 years ($22.5 million-per-year average)
• Contract guarantees: $45 million ($22.285 million as signing bonus)
• Fully guaranteed at signing: $45 million
• Earliest realistic exit point: 2028 ($45 million earned)

A limited tracked didn’t stop the Dolphins from turning to Willis to replace Tua Tagovailoa at quarterback. That’s because the new regime of general manager Jon-Eric Sullivan and head coach Jeff Hafley was previously vice-president of player personnel and defensive coordinator with the Green Bay Packers where Willis was the backup quarterback for the last two seasons. At $22.5 million per year, Willis is quite affordable for a starting quarterback. The 2025 average salary for starting quarterbacks, excluding those on rookie contracts which are strictly determined by draft position, was $44,067,508 per year, according to NFLPA data. 

John Franklin Myers, DT, Titans

• Contract value: $63 million/3 years ($21 million-per-year average)
• Contract guarantees: $42 million ($12 million as signing bonus)
• Fully guaranteed at signing: $42 million
• Earliest realistic exit point: 2028 ($42 million earned)

Franklin-Myers was the best of an underwhelming crop of free agent interior defensive linemen. He reunites with new Titans head coach Robert Saleh. Franklin-Myers was coached by Saleh during his last three seasons with the New York Jets (2021 through 2023). 

Kenneth Walker III, RB, Chiefs

• Contract value: $43.05 million/3 years ($14.53 million-per-year average)
• Contract guarantees: $28.7 million ($13 million as signing bonus)
• Fully guaranteed at signing: $28.7 million
• Earliest realistic exit point: 2028 ($28.7 million earned)

The free agent running back market has bounced back in big way from 2025. Najee Harris’ one-year, $5.25 million deal worth up to $9.25 million through incentives with the Los Angeles Chargers was the top contract in free agency last year. Walker was clearly the best running back available in free agency with the New York Jets designating Breece Hall as a franchise player. The Super Bowl LX MVP can make up $45 million thanks to incentives.

Devin Lloyd, LB, Panthers

• Contract value: $42 million/3 years ($14 million-per-year average)
• Contract guarantees: $25 million ($15.25 million as signing bonus)
• Fully guaranteed at signing: $25 million
• Earliest realistic exit point: 2028 ($29 million earned)

Off-ball linebackers switching teams traditionally don’t fare that well in free agency. Nonetheless, Lloyd made the most of the Jacksonville Jaguars passing on his $14.751 million fifth-year option for 2026. He is making $17 million in 2026, which is the same as Zack Baun did in the first year of the three-year, $51 million deal he signed last year to remain with the Philadelphia Eagles.

Isaiah Likely, TE, Giants

• Contract value: $40 million/3 years ($13,333,333 per-year average)
• Contract guarantees: $26 million ($12.5 million as signing bonus)
• Fully guaranteed at signing: $20.5 million
• Earliest realistic exit point: 2028 ($28 million earned)

Likely got the top tight end contract in free agency. The $2.4 million in annual incentives based on Likely’s statistical performance (receptions, receiving yards and touchdown catches) make the deal worth as much as $47.2 million.