The Minnesota Vikings made tight end TJ Hockenson a very happy man on Thursday, signing him to a four-year extension worth $68.5 million a year before he was slated to hit free agency. Hockenson's extension carries an average annual value of $17.125 million, barely surpassing New York Giants tight end Darren Waller for the highest at the position.
Our guy!!!
The #Vikings have agreed to terms with @TheeHOCK8!! pic.twitter.com/TCiTMspMZM
— Minnesota Vikings (@Vikings) August 31, 2023
Hockenson is a very new addition to the Vikings' offense, as he arrived in a mid-season trade with the division-rival Detroit Lions last year. The former Iowa Hawkeyes tight end fit into the offense seamlessly, catching 60 passes for 519 yards and three touchdowns in 10 games with Minnesota. After a strong opening act in Minnesota, the Vikings wasted no time in locking up Hockenson for the long haul.
The Vikings are obviously making a big commitment with this move, and only time will tell how it truly works out. For now, though, let's grade how the Vikings did with this extension.
Hockenson is a cornerstone of the offense
For someone who has spent only half a season in Minnesota, Hockenson has a huge role in the offense. He became one of quarterback Kirk Cousins' favorite targets after his arrival, and actually finished with the second-most receptions and receiving yards among tight ends last season, only behind Kansas City Chiefs star Travis Kelce. There's no question that Hockenson is among the league's elite tight ends.
As one of the best tight ends in the league, Hockenson is a great fit in Minnesota's pass-heavy offense. The Vikings have a strong group of pass-catchers, including 2022 receiving champ Justin Jefferson and first-round rookie Jordan Addison. Having three quality options forces defenses to play on their toes and allows each to be productive.
It's worth noting that Hockenson has missed time this offseason with an ear infection and back pain. Injury issues are always a concern when signing a player to a new contract but considering that Hockenson has been pretty durable throughout his career, the Vikings shouldn't worry much.
Arguably the best part of this contract is that the Vikings locked up Hockenson for his best years. He just turned 26 in July, and with this extension not beginning until next year, he will be 31 when it ends. Considering what Hockenson has done in his early years, his prime years should be special.
Vikings Cap Implications
Whenever a team signs a record-setting contract such as this, the salary cap implications are at the forefront. Fortunately for the Vikings, this deal is affordable with their cap situation.
According to Spotrac, Minnesota had around $52 million in cap space next year before this deal. After it, the Vikings should have around $35 million remaining. They obviously still have to sign/re-sign many players before next season but having $35 million to work with is pretty good.
Of course, the main contract concern for the Vikings is now signing Jefferson to an extension. He is most fans' choice for the top receiver in the league right now and will likely demand at least $30 million annually on his next deal. Getting that deal done may prove trickier now that the Vikings have invested so much in Hockenson, but Jefferson isn't just a player they want to extend but need to.
Even with that concern, the Hockenson deal still looks to be a very good one for Minnesota. He proved how valuable he is to the offense, and that should continue for the foreseeable future.
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