Commanders Officially Sign WR Terry McLaurin to Extension: Details

The Washington Commanders are celebrating after wide receiver Terry McLaurin officially signed his contract extension Tuesday.

According to ESPN, McLaurin signed a three-year, $71 million extension that will keep him in the burgundy and gold until the end of the 2025 season. McLaurin will play out the final year of his rookie contract in 2022 before the extension kicks in 2023.

According to NFL Network, McLaurin has several opportunities for incentives and guarantees in his new deal.

More details:
Total guarantee: $53.154M
Full guarantee at signing: $34.6M
Another $12.5M guaranteed in March of 2023.
Signing bonus: $28M
Roster bonuses at the start of each league year.
$250K escalators each year except for the last year based on Pro Bowl nods. https://t.co/lBLJVrpX2d
— Ian Rapoport (@RapSheet) June 28, 2022

By signing McLaurin, the Commanders checked off the biggest item on their offseason to-do list.

Since entering the league as a third-round pick in 2019, McLaurin has been one of the game's best wide receivers.

McLaurin just completed his second consecutive 1,000-yard season and is expected to form one of the best wide receiver trios in the game with a healthy Curtis Samuel returning and rookie Jahan Dotson, who the team spent the 16th pick in the NFL Draft on.

Having McLaurin on the field opens up opportunities not only for Samuel and Dotson, but for newly-acquired quarterback Carson Wentz and the rest of the offense.

With an average annual value (AAV) of $23.3 million, McLaurin becomes one of the top-10 richest receivers in the league. Only Tyreek Hill (Miami Dolphins), Davante Adams (Las Vegas Raiders), DeAndre Hopkins (Arizona Cardinals), Cooper Kupp (Los Angeles Rams), A.J. Brown (Philadelphia Eagles) and Stefon Diggs (Buffalo Bills) make $24 million per year or more on their current deals.

Out of the top six, Hill, Adams and Brown signed those deals this offseason with new teams and a pattern was set on top wide receivers leaving their respective teams. However, McLaurin found a way to stay home and now establishes himself officially as a franchise building block in 2022 and beyond.