Will Justin Jefferson Get Extended This Offseason? How Much Will His Contract Be Worth?

Minnesota Vikings wide receiver Justin Jefferson is entering the final year of his rookie contract, where he is set to make a base salary of $19.7 million thanks to his fifth-year option.

The 24-year-old is off to one of the best starts ever for a receiver, and he will be paid as such. In his first three seasons, Jefferson set the record for the most receiving yards in a player's first three seasons. He would have set the record for the most yards in a player's first four seasons, but a groin injury limited him to just 10 games in 2023.

Will Justin Jefferson get extended this offseason? How much will his contract be worth? Let's find out.

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Are the Vikings Offering a Contract Extension to Justin Jefferson?

The Vikings currently have $35 million in cap space for 2024, but QB Kirk Cousins is an unrestricted free agent and is likely to carry around a $30 million cap hit for the next three or so years if he stays in Minnesota. Jefferson became extension-eligible last offseason, but it's rare for non-quarterbacks to sign extensions with two years remaining on the contract.

GM Kwesi Adofo-Mensah and HC Kevin O'Connell both quickly shut down any idea of Minnesota trading the star receiver, and they sounded very reliant on the franchise finding a way to pay Jefferson.

Trading star receiver Justin Jefferson “is not something that’s once crossed my mind,” Minnesota Vikings general manager Kwesi Adofo-Mensah told reporters Tuesday at the NFL scouting combine.

More via @SeifertESPN.https://t.co/2L7Kc71wvT

— Adam Schefter (@AdamSchefter) February 28, 2024

Adofo-Mensah mentioned how the Vikings feel Jefferson is the best receiver in the league and they know he deserves to be compensated in a way that reflects that. At the combine, O'Connell noted their intention has never been stronger to sign Jefferson to a long-term deal.

Justin Jefferson Contract Value

In all likelihood, Jefferson's contract is going to reset the receiver market and should surpass all prior deals in the NFL currently because of what he's done in his first four seasons.

Davante Adams has the most valuable contract for a receiver at $140 million, while Tyreek Hill sees the largest average annual salary at $30 million a season. Cooper Kupp has the most guaranteed money on his deal, with $75 million of his contract guaranteed.

“Justin wants to reset the WR market, like Bosa did for the EDGE,” per an #NFL Agent Source. #Vikings WR Justin Jefferson is seeking a long term deal that would pay him $35M per year (with a 5YR, $175M contract incoming). 💰 pic.twitter.com/lsO9vrSDkV

— 49ers & NFL News 24/7 (@49ersSportsTalk) February 28, 2024

Jefferson will likely get more than all three of those thresholds and completely change the landscape of receiver contracts. According to Jeff Diamond of The 33rd Team, the extension is projected to be around five years and anywhere from $170 to $175 million in total value. He would make around $32 million annually with $122.5 million guaranteed.

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