Another day, and another hefty amount of dollars to be spent on an NFL wide receiver. Today, it was Miami Dolphins receiver Jaylen Waddle, who signed a three-year, $84.75 million extension with the team, according to Adam Schefter.

Waddle is just the latest in what has become a laundry list of wide receivers to be earning new deals in 2024. He now joins Calvin Ridley, Michael Pittman Jr., DeVonta Smith, AJ Brown, and Amon-Ra St. Brown. But this list has been growing since last season.

Last year, it was Tyreek Hill, Davante Adams, and Cooper Kupp breaking the bank, each earning well north of $25 million per year, with Hill earning the most at $30 million.

Waddle, who is teammates with Hill, now falls just behind him in average salary at $28.2 million, which ranks fourth highest in the league, per Spotrac. Above Hill and Waddle is the Detroit Lions' St. Brown at $30 million and Philadelphia Eagles' AJ Brown at $32 million.

As you can tell, the wide receiver market just continues to one-up itself, with Waddle the latest example. This will be Waddle's first contract since signing his rookie deal, and already he's top five in average salary. He's also now one of six to exceed the average annual value of $25 million. There were only three of those before March.

Waddle's new deal also puts him in the category of wide receivers on deals that exceed $70 million or more. There are now 15 in the NFL, with four signing deals of $100 million or more.

You have to figure this is just the tip of the iceberg, and that Waddle, as good as he may be, is still just a WR2 for the Dolphins. There are still several WR1s awaiting new deals, and with each passing wide receiver that signs before them, their prices most assuredly will go up.

Jaylen Waddle's new deal continues ever-changing wide receiver market

There are five wide receivers remaining who will most likely reset the market with each of their signings. They are Justin Jefferson, Brandon Aiyuk, CeeDee Lamb, Ja'Marr Chase, and Tee Higgins. Three of those (Jefferson, Lamb, and Chase) rank in the top 10 in receiving yards and touchdowns dating back to 2021, which was Chase's first year in the league.

Aiyuk was just outside the top 15 in yards and right at 15th in touchdowns. Some consider the San Francisco wide receiver one of the best remaining to earn a new deal, but the offense he plays in doesn't give him quite the stats as the trio of Jefferson, Lamb, and Chase. However, he does top the rest on this list, averaging 15.2 yards per reception.

Chase is behind all the other four in these categories, even in total receptions during this stretch. Aiyuk has 209, while Chase has 190. He's obviously the WR2 in Cincinnati, but that's why Waddle's latest extension will likely earn him a hefty payday. Waddle's deal will do for Chase what Brown and St. Brown's will do for the other three (or four).

Will Justin Jefferson, CeeDee Lamb, Ja'Marr Chase be the peak?

Brown and St. Brown's deals basically set the market on fire. Now every owner that has one of the remaining receivers is shaking their head, knowing the measures they will have to take to hold onto them.

Brown tops the league in guaranteed money for receivers at $84 million, with St. Brown behind at $77 million, and surprisingly now Waddle just behind him at $76 million. Obviously, the length and overall value of a contract are important, but the sweet spot is the guaranteed portion.

This wide receiver market is far from meeting its apex, as we have likely just seen the beginning of what will be record-setting deals to come. As pass-happy as this league has become, securing top pass-catchers like these has become a premium with a likewise premium price tag.