DeVonta Smith secures a significant contract extension with the Eagles.

April 15, 2024

DeVonta Smith secures a significant contract extension with the Eagles.

DeVonta Smith has secured a lucrative deal with the Eagles, ensuring his presence on the team for the foreseeable future. The Eagles recently exercised Smith's fifth-year option on his rookie contract, extending his tenure with the team through the 2028 season. Additionally, they inked a three-year contract extension with him. This extension, covering the 2026, 2027, and 2028 seasons, is valued at $75 million, with an impressive $51 million guaranteed, as reported by NFL Network's Ian Rapoport.

This substantial contract reflects the Eagles' commitment to retaining their emerging star receiver. Smith himself seemed unfazed by the negotiations, stating in February, "Let the chips fall where they may. When the time comes, it comes. I'm not necessarily focused on it. It will come, and I'm just letting it go."

The annual average of $25 million over DeVonta Smith's three-year extension aligns with the Average Per Year (APY) of A.J. Brown's four-year, $100 million contract, which was secured after Brown was traded to the Eagles in 2022. This places the Eagles with two of the NFL's top five highest-paid receivers in terms of APY, alongside Tyreek Hill ($30M), Davante Adams ($28M), and Cooper Kupp ($26.7M). Notably, the Eagles finalized this deal before anticipated major extensions for Justin Jefferson and CeeDee Lamb could potentially reset the market.

DeVonta Smith became eligible for a contract extension upon completing the third year of his rookie contract in 2023. With the final year of his rookie deal slated for 2024, he will play on the fifth-year option in 2025, projected to be valued at $15.591 million, according to OverTheCap. Consequently, the total value of Smith's contract extension amounts to what could effectively be seen as a four-year, $91 million deal.

While the Eagles weren't under immediate pressure to finalize this extension, they have a consistent track record of prioritizing early deals with their players. Smith, being a cornerstone player, falls within their category of individuals they are keen to retain within the organization.

"At the combine this offseason, general manager Howie Roseman emphasized DeVonta's exceptional qualities both on and off the field, highlighting his status as a homegrown talent and a young standout. Roseman expressed a strong desire to keep such valuable players within the organization, without delving into specific contract details.

At 25 years old, DeVonta Smith was drafted as the No. 10 overall pick in the 2021 NFL Draft from Alabama, and he has lived up to the Eagles' expectations in his first three seasons. Over this period, Smith has amassed impressive statistics, recording 240 receptions for 3,178 yards and 19 touchdowns. Despite sharing the field with established talents like A.J. Brown, Smith has consistently achieved over 1,000 receiving yards in consecutive seasons.

While Smith ranked 20th in the NFL with 1,066 receiving yards in 2023, there is a widespread belief that he has yet to reach his full potential. Smith himself acknowledges this, expressing confidence that there is more to come, particularly in terms of utilizing his abilities in open space.

With the addition of offensive coordinator Kellen Moore, the Eagles' offensive strategy is poised for a transformation in the upcoming 2024 season. It's anticipated that Smith will be among those players who benefit most from this change in approach.

Amidst a busy offseason, the Eagles have secured long-term contracts for several key players, including Jalen Hurts, Landon Dickerson, Jake Elliott, Jordan Mailata, and now DeVonta Smith. These extensions underscore the team's commitment to building a solid foundation for the future."

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DeVonta Smith secures a significant contract extension with the Eagles.

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