Inside The Vikings

Examining the Details of T.J. Hockenson's Contract Extension

Hockenson's deal with the Vikings was first reported as four years, $68.5 million, but it's not that simple.
Will Ragatz|
Examining the Details of T.J. Hockenson's Contract Extension
Examining the Details of T.J. Hockenson's Contract Extension

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Minnesota Vikings

The Vikings and Pro Bowl tight end T.J. Hockenson agreed to terms on a big four-year contract extension on Thursday morning.

The deal was initially reported by ESPN's Adam Schefter as being worth $68.5 million over those four years. That means an average annual value of $17.125 million that would be the highest AAV for a tight end in NFL history, topping Darren Waller's $17M figure.

But as it turns out, that framing — which was undoubtedly pushed by Hockenson's representation — was inaccurate, or at least incomplete. As reported by The Athletic's Dianna Russini and NFL Network's Tom Pelissero, the real figure on Hockenson's extension is $66 million over four years, with the possibility to max out at $68.5 million if he hits certain incentives. That $16.5 million AAV is less than Waller's mark.

There's more it to it than that, too. Pelissero has the details:

There are even more details at Over the Cap. It's worth remembering that the roughly $9.4 million fifth-year option on Hockenson's rookie deal is still a part of this whole equation.

The $42.5 million in guarantees is also an important number to note. Although Hockenson is now under contract through 2027, he'll be 30 in 2027 and is unlikely to play on this contract as currently constructed. It'll be easy for the Vikings to move on (or give Hockenson another extension) that offseason.

These are Hockenson's cap hits by year, per OTC:

  • 2023: $4.9 million
  • 2024: $14.1 million
  • 2025: $15.1 million
  • 2026: $19.6 million
  • 2027: $21.6 million

So the Viking cleared roughly $4.5 million in cap space for this season.

Notably, Hockenson's $9.9 million base salary in 2024 is fully guaranteed at signing and his 2025 salary becomes guaranteed next year.

When looking at Hockenson's contract as a percentage of the salary cap — which goes up over time — he still ranks among the highest-paid tight ends in league history, but not all the way up near the top.

Hockenson told reporters on Thursday afternoon that he's excited to be in Minnesota for a long time. Unsurprisingly, his "lower-back stiffness" is reportedly improved and he's expected to be ready to play against the Buccaneers in Week 1.

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Will Ragatz
WILL RAGATZ

Will Ragatz is a senior writer for Vikings On SI, who also covers the Twins, Timberwolves, Gophers, and other Minnesota teams. He is a credentialed Minnesota Vikings beat reporter, covering the team extensively at practices, games and throughout the NFL draft and free agency period. Ragatz attended Northwestern University, where he studied at the prestigious Medill School of Journalism. During his time as a student, he covered Northwestern Wildcats football and basketball for SB Nation’s Inside NU, eventually serving as co-editor-in-chief in his junior year. In the fall of 2018, Will interned in Sports Illustrated’s newsroom in New York City, where he wrote articles on Major League Baseball, college football, and college basketball for SI.com.

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