The Washington Commanders have locked up Terry McLaurin with a brand new contract that will make him one of football's highest-paid wide receivers. According to Adam Schefter, McLaurin is due to make $71 million in new money over the course of three years under his new contract, which includes a record-setting $28 million signing bonus.
The new three-year extension for Terry McLaurin includes a $28 million signing bonus, the largest given to any wide receiver, and also has 76.4 percent of the new money in deal guaranteed. The deal contractually ties the 26-year-old McLaurin to Washington through the 2025 season.
— Adam Schefter (@AdamSchefter) June 28, 2022
His $28 million signing bonus is the highest ever paid to a wide receiver in NFL history, and he will remain with the Commanders through the 2025 season after securing his big-money deal. As Schefter denotes, 76.4% of the $71 million in new money will be guaranteed to the 26-year-old, which equates to roughly $54.2 million in guaranteed money.
McLaurin was one of a handful of top-of-the-line wide receivers due for a new contract ahead of the expiration of his rookie deal. The Commanders made a major commitment to their star wide receiver by extending his stay for an additional three years, and paying quite handsomely to do so.
Sources: The #Commanders and star WR Terry McLaurin have agreed to terms on a 3-year deal worth $23.3M per year new money. Another WR cashes in.
— Ian Rapoport (@RapSheet) June 28, 2022
The new money in his deal will average out to around $23.3 million per season, according to Ian Rapoport, as the Commanders have now locked down a key cog of the offense for the next few years.
Across his first three years in Washington, McLaurin has racked up 222 receptions, 3,090 receiving yards, and 16 touchdowns. Last year, McLaurin logged his second-consecutive 1,000+ yard season and registered 5 touchdowns. He'll look to improve on those numbers alongside new Commanders QB Carson Wentz.
Prior to agreeing to his new deal, McLaurin was expected to earn just $2.79 million in base salary under the terms of his rookie contract, a figure vastly below what he's worth. The Commanders corrected that, making him a top-five earner at his position across all of football.