What DeVonta Smith's contract extension with Eagles means for Justin Jefferson, CeeDee Lamb, more top WRs

The Eagles have one of the NFL's best wide receiver combinations in A.J. Brown and DeVonta Smith. Now, both of them are under contract for the foreseeable future.

Philadelphia announced Monday that it had exercised Smith's fifth-year option for the 2025 NFL season and signed him to a three-year contract extension.

Smith was a rock-solid starter for the Eagles in 2024 and complemented Brown well as Philadelphia made the playoffs for a third straight season under Nick Sirianni. Smith is still just 25, and the 2021 first-round pick should continue to improve as he matures at the NFL level.

Smith's deal won't just benefit the Eagles. It will also open the door for other young receivers across the NFL to command big-money extensions and free-agent deals as the league catches up to the burgeoning price of pass-catchers.

Here's what to know about Smith's contract, how it compares to Brown's, and how it will impact players like Justin Jefferson, CeeDee Lamb, Ja'Marr Chase, and more.

MORE: SN's 7-round mock draft sees five quarterbacks go in Round 1

DeVonta Smith contract details

Smith signed a three-year extension with the Eagles worth up to $75 million overall. It comes with $51 million in guarantees and keeps Smith with the Eagles through the 2028 NFL season.

Smith was entering the penultimate year of his rookie contract with the Eagles after being the 10th overall pick in the 2021 NFL Draft. He will make just over $3.4 million in 2024 and $15.6 million in 2025 as a part of his fifth-year option before the three-year extension kicks in.

Smith's contract extension is worth $25 million in average annual value (AAV). That ties him as the fourth-highest-paid receiver in the NFL with his teammate, A.J. Brown.

The lone differences between the two? Brown got an extra year on his four-year, $100 million contract. He also received $6.2 million more in guarantees than Smith.

NFL DRAFT BIG BOARD: Ranking the top 200 players in 2024 draft class

DeVonta Smith stats

Smith earned his hefty payday after back-to-back 1,000-plus-yard seasons with the Eagles. He emerged as a clean route-runner, a great foil to Brown, and a top weapon for Jalen Hurts in his first three seasons with the team.

Below is a look at Smith's full stats from his first three seasons in Philadelphia:

What DeVonta Smith deal means for Justin Jefferson, CeeDee Lamb, more

The Smith deal will greatly impact the NFL's receiver market. It essentially sets the floor for negotiations involving young, top-tier receivers as many become extension-eligible or prepare to hit free agency.

Before Smith's extension, only four NFL receivers had signed contracts worth $25 million in AAV or more. Of the group, only A.J. Brown inked the deal before his age-24 season. The others — Tyreek Hill, Davante Adams, and Cooper Kupp — were all at least 28 when they agreed to their deals.

Smith's deal now adds a second receiver aged 25 or younger to that group of wideouts making at least $25 million in AAV. That more firmly establishes that price as the minimum AAV needed to ink a young, productive receiver to a lucrative, multi-year extension.

More likely, other receivers on the market will get more than Smith. While Smith has the skill set of a No. 1 receiver, he shares targets with Brown in a 1A, 1B-type relationship. There are others on the market who are the clear-cut No.1 receivers on their respective squads, like Justin Jefferson and CeeDee Lamb.

Players like that will likely be worth more to their clubs than Smith is to the Eagles because of Brown's presence. That could force teams like the Vikings, Cowboys, and Bengals to give record-breaking contracts to Jefferson, Lamb, and Ja'Marr Chase, respectively.

It remains possible that some of the top-of-market receivers might prefer to trade high-end AAVs for deals loaded with guaranteed money. Some could even prefer to take shorter-term deals in an effort to maximize their career earnings in the NFL.

Either way, it would appear that $25 million in AAV is the new starting point for any deal involving a starting outside receiver under 25 years old.

2024 NFL FREE AGENCY:
Most overpaid | Best bargains | Team grades | Winners & losers

Highest-paid NFL WRs

Below is a look at the 10 highest-paid NFL wide receivers in AAV, per OverTheCap.com.