There’s a new highest-paid wide receiver in the NFL, and his name is Jaxon Smith-Njigba. The Seattle Seahawks have reached an agreement with the veteran receiver on a four-year, $168.6 million extension, per CBS Sports NFL insider Jonathan Jones. The $42.15 million average annual value tops the previous high set by Cincinnati Bengals’ Ja’Marr Chase by nearly $2 million.
This extension comes on the heels of Seattle picking up Smith-Njigba’s fifth-year option last week. That move was largely a formality given how prolific the 24-year-old has been since being selected No. 20 overall in the 2023 NFL Draft out of Ohio State. Along with setting a new mark in average annual salary, ESPN reports that Smith-Njigba will also receive more than $120 million guaranteed, another record among wide receivers.
This extension is the culmination of Smith-Njigba establishing himself as one of the NFL’s elite receivers in 2025 after taking on a larger role. The Seahawks overhauled their wide receiver room last offseason, moving on from mainstays like DK Metcalf and Tyler Lockett, which cleared the path for Smith-Njigba to rise to the top of the depth chart.
With that increased opportunity, the Oklahoma native put together a historic 2025 campaign. He earned unanimous first-team All-Pro honors and won Offensive Player of the Year after setting a franchise record with 1,793 receiving yards in the regular season, which also led the NFL.
Smith-Njigba was also a key part of Seattle’s Super Bowl LX run, totaling 17 receptions for 199 yards and two touchdowns in the playoffs. He was especially impactful in the NFC Championship Game against the Los Angeles Rams, catching 10 of 12 targets for 153 yards and a touchdown to help send the Seahawks to Santa Clara, where they ultimately hoisted the Lombardi Trophy after beating the Patriots.
Now, Smith-Njigba will not only be in-house for Seattle’s 2026 title defense but will also be a central piece in adding more banners at Lumen Field for years to come.
Who could unseat JSN as NFL’s highest-paid WR?
If there’s one thing that we can say for certain, it’s that Smith-Njigba won’t be the NFL’s highest-paid wide receiver for long. These titles are constantly being tossed around at various positions, and it won’t be long until the next great receiver will be due for a contract and unseat Smith-Njigba. Moreover, teams have been far more likely to sign massive contracts with receivers in recent years. Back in 2016, there was just one receiver whose salary accounted for at least 10% of the team’s salary cap when signed. In 2026, this extension for Smith-Njigba brings the total to 13 receivers who cross that threshold when signed (h/t Robert Mays of The Athletic).Â
So, who are some candidates who could snap that crown away from Smith-Njigba in due time? Let’s highlight three receivers.Â
Nacua is entering the final year of his rookie contract in 2026, so the Los Angeles Rams will likely try to ink him to a long-term extension before they reach Week 1 in September. Nacua has a claim as the NFL’s best wide receiver, making him worthy of possibly exceeding what Smith-Njigba just received from an average annual salary standpoint. The 24-year-old put together another sensational season in 2025, leading the NFL in receptions and receiving yards per game (107.2). Nacua also went nuclear in the playoffs, totaling 332 yards receiving and two touchdowns through three postseason matchups. That includes a nine-catch performance in the NFC Championship where he tallied 165 yards receiving and a touchdown, albeit in a loss to Seattle. Through three seasons, Nacua averages 121 receptions and 1,619 yards per year. For him, it’s a matter of when rather than if he’ll surpass Smith-Njigba as the NFL’s highest-paid receiver.Â
As we’ve seen time and time again when it comes to these mammoth contract extensions, you don’t necessarily need to be the actual top player at your position to receive the richest contract. Instead, you simply need to time the market. For Pickens, he’s coming off a first season in Dallas where he posted career numbers across the board. After three seasons in Pittsburgh, Pickens joined the Cowboys and hauled in 93 catches for 1,429 yards and nine touchdowns. Those receiving yard totals had Pickens third in the NFL, only trailing Smith-Njigba and Nacua. To complement that breakout, Pickens is just 25 years old, so he has the profile to ink a monstrous contract. The Cowboys already placed the franchise tag on Pickens this offseason, which is set to pay him $27.29 million fully guaranteed if he plays on it in 2026. However, if he plays hardball and seeks a long-term deal, his camp will likely push for top-of-the-market money. Whether Dallas (or any team) gives it to him is another story, but it’s not out of the realm of possibility, which is why we’re highlighting him here.
London is an under-the-radar candidate to rise in the AAV rankings. The 24-year-old has the pedigree and production to warrant the conversation of receiving a record-breaking contract. He was the eighth overall pick in 2022 out of USC and has started to blossom into one of the top players at his position. In 2024, London posted career highs across the board, catching 100 balls for 1,271 yards and nine touchdowns. He was on pace to exceed his career high in receiving yards last season, but was limited to 12 games due to injury. Atlanta picked up his fifth-year option for 2026 last offseason, so London is entering a lame-duck year. He may not have as prolific numbers as Smith-Njigba, Chase, or some other receivers atop the market, but London’s camp can put together a compelling case for elite future production.Â
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