Justin Jefferson's fifth-year option exercised by Vikings

The odds of Jefferson actually playing on his fifth-year option salary aren't very good because he'll likely have a new contract by then.

The Minnesota Vikings on Tuesday exercised the fifth-year option in superstar wide receiver Justin Jefferson's contract, according to numerous reports. 

Jefferson, entering his fourth season in the NFL, is now formally signed through the 2024 season. He's due to earn $2.4 million in 2023, while his fifth-year option could pay him more than $19.7 million thanks to earning Pro Bowl honors every year since being drafted 21st overall by the Vikings in 2020. 

But the odds of Jefferson playing at that rate seem very slim as the 22-year-old wide receiver is expected to get a new contract before the 2024 season begins. Based on the expectation that he'll be the NFL's highest-paid receiver, he'll likely be making at least $30 million per season on a new contract. 

Jefferson was named the NFL Offensive Player of the Year in 2022 after he led the league with 128 receptions and 1,809 receiving yards.