The Philadelphia Eagles agreed to a three-year extension with their young star receiver DeVonta Smith on Monday, the team announced on Twitter.
“We’ve exercised the fifth-year option on WR DeVonta Smith and have agreed to terms on a 3-year contract extension through 2028,” the team wrote on Twitter.
The three-year deal is reportedly worth $75 million, according to My Sports Update’s Ari Meirov. $51 million of that will be fully guaranteed, according to ESPN’s Adam Schefter.
Counting the fully guaranteed $15.59 million fifth-year option the Eagles exercised, they just committed over $90 million to the 25-year-old over the next four years, with over $66 million of it being fully guaranteed
The #Eagles and WR DeVonta Smith have agreed to a 4-year, $90.59M extension, keeping him in Philadelphia through the 2028 season.
Smith had his $15.59M fifth-year option picked up and then another 3-years and $75M added on top of that. pic.twitter.com/0SKcF2Exns
— Ari Meirov (@MySportsUpdate) April 15, 2024
$90 million is a crap ton of money for a receiver, but at Smith’s age, and with a potentially market-setting Justin Jefferson contract incoming, it may end up being a shrewd move for Philly. Smith has already proven himself a star in his short career. (RELATED: NFL’s Liberal Media Darling Might Actually Like Trump)
In three seasons with the Eagles, he’s averaging over 1,000 yards and more than six touchdowns per year. He’s also stayed impressively healthy, missing only one game so far in his career, which was a major concern for the smaller receiver coming out of college.
If teams scoff at Jefferson’s contract demands and he ends up signing a moderate deal, Philly may kick themselves and say they overpaid for the second-best receiver on their team after A.J. Brown. But if Jefferson gets the rumored $30 million a year he’s asking for, Philly will likely look at this deal as an absolute steal.