DeVonta Smith Contract Extension is Total Steal For Eagles
Philadelphia Eagles fans knew the team needed a big offseason, and even after a disappointing end to 2023 there was a lot of faith that Howie Roseman could deliver one.
Already off to a great start, Roseman really outdid himself on Monday, extending star wide receiver DeVonta Smith to an absolute steal of a contract.
The #Eagles have paid another big-time, rising player. This time, WR DeVonta Smith gets a 3-year, $75M contract extension that includes $51M guaranteed, sources say.
— Ian Rapoport (@RapSheet) April 15, 2024
The deal was done by @kelt_crenshaw of @KlutchSports, and it keeps Smith in PHI for years to come. 💰 💰 💰 pic.twitter.com/hsBXWx30MH
Eagles Fans Amazed at DeVonta Smith Contract Extension Terms
DeVonta Smith's 3-year, $75 million contract extension seems like a huge amount of money on the surface, but it's actually an incredible value for the Eagles.
The NFL salary cap keeps climbing at an incredibly fast rate, and nearly every offseason we see players setting new records for the biggest contract ever at their position. So while $25 million per year is tied for fourth among all wide receivers, we need a bit more context:
MIchael Pittman's $23.3 million per year with the Colts ranks No. 6 at the position. Calvin Ridley's $23 million per year ranks No. 7. With CeeDee Lamb, Stefon Diggs, Tee Higgins, Chris Godwin and Amari Cooper all becoming free agents in 2025—and DK Metcalf, Deebo Samuel and Terry McLaurin among the names following them in 2026—Smith's going to look seriously underpaid before his deal kicks in.
And of course, there's no questioning his value in this offense. He's coming off back-to-back 1,000-yard seasons, and last year his 9.5 yards per target were tops among Eagles wide receivers.
Already a premier wide receiver at just 25 years old, there's also still room for Smith to grow. There's almost no chance we're sitting here even one year from now and not looking at this contract as an incredible value, and yet another masterclass from Roseman.
Especially impressive? Smith and his team came out publicly just last week stating they were in no rush to sign a new extension. They even cited this exact scenario—that plenty of wide receivers are about to re-sign and drive the market up in the near future—as the reason why they were potentially going to play hardball.
As the Eagles continue to have a significantly better offseason than their top NFC East competition, they only barely trail the Dallas Cowboys in the odds to win the NFC East this season.
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