Terry McLaurin's Commanders Contract Guarantees, Incentives, More Detailed in Report

Two days after Terry McLaurin agreed to a new contract with the Washington Commanders, specific details about the deal show it's not as lucrative as initially reported.

Per NFL Network's Ian Rapoport, the three-year extension has a base value of $87 million with $44 million fully guaranteed and a $30 million signing bonus.

The deal was originally reported as being worth $96 million over three years.

The $29 million average annual salary puts McLaurin just outside the top 10 among all wide receivers. He moved slightly ahead of Tee Higgins, who is making $28.8 million per season with the Cincinnati Bengals.

If McLaurin reaches the incentives that push his salary up to $32 million per season, he will tie A.J. Brown as the sixth-highest-paid wide receiver in the league.

McLaurin's $44 million in guaranteed money is tied with Chris Godwin for 17th at the receiver position.

Even though there were rumblings earlier in the offseason that McLaurin was looking to get a deal on par with DK Metcalf's extension from the Pittsburgh Steelers, Godwin makes more sense as a comparison point.

Godwin got less money overall on a three-year, $66 million deal from the Tampa Bay Buccaneers primarily because he is coming off a dislocated ankle that ended his 2024 season after seven games.

In terms of age and performance, though, Godwin and McLaurin have had similar careers. McLaurin is actually five months older than Godwin and entered the NFL two years later.

Since McLaurin's rookie year in 2019, he has more total yards (6,379) and touchdowns (38) than Godwin (5,899 yards, 31 touchdowns). Godwin has been better on a per-game basis (74.7 yards to 65.8), but he has missed 21 games over the past six seasons.

McLaurin's durability is a big reason the total value of his deal is more than Godwin's, but the guaranteed money is similar because they are close to the same age.

Ultimately, both sides are happy because the Commanders got their No. 1 receiver signed in time for the start of the regular season and McLaurin is under contract for four years.