Cincinnati Bengals wide receiver Ja'Marr Chase reset the NFL WR market by signing a four-year contract extension worth $161 million with $112 million in guarantees. At $40.2 million annually, Chase just became the highest-paid non-quarterback in NFL history. It's fantastic news for the next crop of receivers eligible to sign contract extensions within the calendar year.
Chase’s contract extension should help the likes of Drake London, Jaxon Smith-Njigba, Puka Nacua, and Jameson Williams in negotiations. But the receiver who should benefit most is New York Jets wideout Garrett Wilson. Wilson is already eligible to negotiate an extension with the Jets, and Chase’s deal will provide his representation with leverage in negotiations.
Wilson has begun his career with three consecutive 1,000-yard seasons despite receiving lackluster quarterback play every year. In 2024, the former Ohio State standout recorded 101 receptions for 1,104 yards and seven touchdowns. It was career-high marks in all three receiving categories.
New Jets general manager Darren Mougey may be in no rush to engage in discussions. The No. 10 overall selection in the 2022 NFL Draft, Wilson is slated to enter the fourth and final season of his rookie contract agreement in 2025. The Jets possess the right to extend the contract via the fifth-year option, which they'll undeniably exercise, keeping Wilson under control through 2026.
The Jets would be wise to learn a lesson from Chase's extension though. The Bengals exercised Chase's fifth-year option in April 2024 and decided against immediately extending him despite the star wideout conducting a hold-in during training camp. Stubbornness only cost Cincinnati significant capital as the price continuously increased. Signing Wilson now would prevent inflation from costing the Bengals in the end.
With all that said, Wilson probably won't become the NFL's next $40 million per year receiver. Chase captured the Triple Crown this past campaign, providing him with a historic amount of leverage in negotiations. Chase is currently the top-performing wide receiver in the league and his well-deserved $40 million annual price tag should be reserved for such dominance.
There have been other developments at receiver that will directly impact Wilson's eventual discussions. Justin Jefferson is currently the second-highest-paid receiver in the league at $35 million per season. That contract was signed last June, and the salary cap will have consistently increased by the time Wilson signs his extension.
CeeDee Lamb signed a similar deal worth $34 million per campaign two months (August 2024) later. The Philadelphia Eagles ripped up AJ Brown's existing contract and rewarded him with a $32 million per year deal. There are plenty of examples for Wilson's representation to draw from.
Wilson is well-positioned to sign an extension that surpasses $35 million per year. A receiver must close the sizable gap between Chase and Jefferson as things stand. Wilson's representation should attempt to negotiate a three-year extension worth $112.5 million, paying him $37.5 million annually.
Chase's historic extension will have a domino effect on the receiver market. The next crop of pass-catchers will benefit greatly. Wilson sits atop the list of receivers positioned to capitalize on Chase's successful negotiation.
