Justin Jefferson $172.5m deal to ‘get done soon!

In the imminent future, Justin Jefferson is poised to secure a substantial financial windfall, according to former Minnesota Vikings general manager Jeff Diamond.

Diamond anticipates that the 24-year-old standout wide receiver will ink a lucrative five-year contract extension valued at $172.5 million. The proposed deal includes a hefty $50 million signing bonus and an impressive $125 million guaranteed throughout the contract’s duration.

Furthermore, Diamond suggests that Jefferson’s representatives are aiming not only for the highest annual average value but also for the most guaranteed money, surpassing the current benchmark set by San Francisco defensive end Nick Bosa. Bosa’s non-quarterback deal with the 49ers boasts an annual average value of $34 million, a $50 million signing bonus, and $122.5 million guaranteed.

Diamond outlines his expectations for Jefferson’s contract in The 33rd Team, asserting, “Expect Jefferson’s deal to include a $50 million signing bonus to match Bosa and $125 million guaranteed to exceed him.” A five-year agreement worth $172.5 million would translate to an annual average value of $34.5 million for Jefferson, surpassing Bosa by a narrow margin of $500,000 per year.

Expressing confidence in the impending deal, Diamond, who served the Vikings from 1976 to 1998, suggests that it is likely to be finalized soon, possibly before the opening of free agency on March 13. He emphasizes that this timing would afford the Minnesota Vikings significant salary cap savings, specifically alleviating the 2024 cap hit of $19.743 million associated with Jefferson.

Moreover, Diamond anticipates that the new contract could yield approximately $10.2 million in savings on Jefferson’s 2024 cap hit. This potential financial relief could prove instrumental in reallocating funds to secure extensions for key players, including quarterback Kirk Cousins and edge rusher Danielle Hunter. Diamond estimates a yearly commitment of at least $45 million to re-sign Cousins and approximately $25 million annually for Hunter’s contract extension.