Projecting Chris Olave's Next Saints Contract After Jaxon Smith-Njigba's Deal

The New Orleans Saints have been reportedly working toward a contract extension with star wide receiver Chris Olave for the better part of the last year, but no deal has come to fruition. At the trade deadline last season, Olave was mentioned as a trade candidate, but he quickly shut these rumors down by explaining that he's still working on an extension.

But the idea of an Olave extension recently took a wild turn after his former college teammate, Jaxon Smith-Njigba, reset the wide receiver market with a massive contract extension of his own.

Jaxon Smith-Njigba resets wide receiver market

Feb 8, 2026; Santa Clara, CA, USA; Seattle Seahawks wide receiver Jake Bobo (19) celebrates with Jaxon Smith-Njigba (11) against the New England Patriots during Super Bowl LX at Levi's Stadium. Mandatory Credit: Mark J. Rebilas-Imagn Images | Mark J. Rebilas-Imagn Images

On Monday, Smith-Njigba agreed to a four-year, $168.6 million deal with the Seahawks that will pay him $42.15 million per year as well as $120 million in guaranteed money. This deal makes Smith-Njigba the highest paid wide receiver in NFL history, both in total value and in average annual value.

And it's hard to argue it's an overpay. Smith-Njigba is coming off an Offensive Player of the Year award and is only getting better, considering he's only 24 years old.

Is this contract going to have an impact on Olave and his extension talks? What could Olave's potential contract extension look like?

What will Chris Olave's next deal look like?

New Orleans Saints wide receiver Chris Olave (12) celebrates his touchdown during the third quarter against the Tennessee Titans at Nissan Stadium in Nashville, Tenn., Sunday, Dec. 28, 2025. | Andrew Nelles / The Tennessean / USA TODAY NETWORK via Imagn Images

Two years ago, CeeDee Lamb and Justin Jefferson were the highest paid wide receivers in football at $34 million and $35 million per year, respectively. Both, like Smith-Njigba, signed four-year contracts. Last offseason, Ja'Marr Chase reset the market by signing for $161 million over four years.

Olave is unlikely to get this kind of deal because of his injury history. He's also a tick below this tier of wide receivers. Olave is likely in the range of $30 million per year to $34 million per year, similar to deals signed by DK Metcalf, Garrett Wilson, and AJ Brown. Olave has an argument to be paid more than these players, but not more than Lamb, Jefferson, Chase, and Smith-Njigba.

Olave is coming off a career year with Tyler Shough at the helm, catching 100 passes for 1,163 yards and nine touchdowns, all career highs. This production, plus the fact that he stayed relatively healthy, should help him earn a massive pay day.

Chris Olave projection: Four years, $135 million ($33.75 million per year)