Projecting the NFL's Next Big Contract Extensions

The NFL offseason is long and difficult, not only for fans but also for front offices, agents and players.

Contract holdouts and extensions are the primary concerns for general managers and coaching staffs looking to find the right balance of what makes sense on the field and for the financial books. There’s great incentive for both parties to hammer out a fair deal that will keep both sides happy.

Getting an extension done now will take pressure off the player and team, as questions about their future relationship will die out. As discussions continue to take place between agents and teams, more big contract extensions will continue to roll in.

After recent deals for Jacksonville Jaguars receiver Allen Hurns, San Diego Chargers receiver Keenan Allen and Philadelphia Eagles defensive tackle Fletcher Cox, it’s time to project the next megadeals that will happen.

We have eight excellent candidates for big contract extensions, including fair market values for their talents.

What will happen with each player and the contracts they eventually sign? Make sure you leave your prediction and projection for each in the comments section below.

Von Miller, LB, Denver Broncos

Jack Dempsey/Associated Press

2015 statistics: 35 tackles, 11 sacks, four fumbles forced

All eyes are currently on how the Denver Broncos handle Super Bowl 50 MVP Von Miller. The explosive edge-rusher is holding out with a franchise tag in hopes of receiving the massive payday he’s certainly earned.

According to Pro Football Talk Insider Mike Florio, the Broncos and Miller have agreed upon the terms of the deal but are stuck on the guaranteed dollars.

The Broncos have offered to guarantee just $38.5 million at signing, with another $20 million coming as an option in 2018. That’s well below market vaule for Miller, especially as the Philadelphia Eagles just guaranteed defensive tackle Fletcher Cox $63 million. General manager John Elway has played hardball with Miller, but the deadline to strike a long-term deal is looming.

The July 15 deadline will greatly affect both parties and pressure each to finish this deal. It seems like a matter of time before the Broncos cave and structure an acceptable extension for Miller. They simply cannot afford to lose a 27-year-old pass-rusher who already has 60 sacks on his resume.

Projected extension: six years, $114.5 million, $70 million guaranteed

Andrew Luck, QB, Indianapolis Colts

Bob Leverone/Associated Press

2015 statistics: 55.3 completion percentage, 1,881 yards, 15 touchdowns, 12 interceptions in seven games

There’s been so much hype around Indianapolis Colts quarterback Andrew Luck’s inevitable contract extension that it’s impossible not to expect a groundbreaking deal. Even Colts owner Jim Irsay said the deal will be “shocking,” according to WISH-TV.

Projecting such an agreement is difficult if Luck is primed to reset the market with his extension.

Luck will most likely set records for the biggest average salary per year, total value of the deal and most guaranteed money. Even after an injury-plagued 2015 season, Luck’s value to the Colts gives him incredible leverage. The 26-year-old is one of the faces of the league and simply cannot be replaced.

The Colts have ample cap space to make this extension happen at any moment. Per Over the Cap, the Colts have $60 million in 2017 and almost $100 million of cap space available, so even an unprecedented deal wouldn’t be too detrimental for the franchise. The team has seen improved results from recent draft classes, allowing them to utilize players on cheap rookie contracts, as opposed to relying on expensive free-agent contracts.

Projected extension: five years, $127 million, $100 million guaranteed

Tyrann Mathieu, DB, Arizona Cardinals

Rick Scuteri/Associated Press

2015 statistics: 89 tackles, five interceptions, 17 passes defensed

Maybe the most difficult contract extension to be done on this list is that of Arizona Cardinals defensive back Tyrann Mathieu. Not only does Mathieu have to overcome a second torn ACL in three seasons, but his positional classification is troublesome. Mathieu has been the consummate switchblade weapon for this defense, lining up at cornerback and safety almost evenly.

The monetary difference between those positions is massive. According to Spotrac, the top-earning safety not on the franchise tag averages $10.25 million a year, while the top cornerback is at $15 million. These two parties will need to meet in the middle somehow to keep Mathieu in the desert.

According to NFL Media Insider Ian Rapoport (via Kevin Patra of Around the NFL), the Cardinals view Mathieu as a cornerstone piece and will reward him as the highest-paid safety in the NFL. The Cardinals may aim to future-proof Mathieu’s deal as best they can, especially considering that Eric Berry will likely receive a long-term deal soon, too. Like the cornerback market was overhauled in previous years, expect the safety position to follow.

Projected extension: five years, $60 million, $30 million guaranteed

Doug Baldwin, WR, Seattle Seahawks

Nam Y. Huh/Associated Press

2015 statistics: 78 receptions, 1,069 yards, 14 touchdowns

Amid criticism and concern that the Seattle Seahawks' offensive playmaker corps was too limited to help quarterback Russell Wilson, it was wide receiver Doug Baldwin who answered with an astounding, breakout 2015 season.

The 27-year-old set career highs in receptions, yards and touchdowns and nearly doubled his career touchdown total in one season. Baldwin had been a solid but unspectacular receiver up until 2015, when he found the perfect blend of route running and consistency at the catch point that hadn’t been there earlier in his career.

As he enters the final year of a three-year, $13 million contract, Baldwin is in line to see a massive pay bump. The closest comparison in terms of age and production among recent receiver contracts is that of Keenan Allen, who signed a four-year, $45 million deal with $20 million guaranteed.

Baldwin is three years older than Allen but has less of an injury history. Seahawks head coach Pete Carroll said per the Seattle Times' Jayson Jenks that the team and Baldwin are working on an extension, adding that the situation will “take care of itself.” It seems promising that a deal will be struck in the near future.

Projected extension: four years, $44 million, $22 million guaranteed

Darius Slay, CB, Detroit Lions

Jeff Haynes/Associated Press

2015 statistics: 58 tackles, two interceptions, 13 passes defensed

The cornerback market has been reset in recent years as massive new contracts have altered the landscape for free agents. Young cornerbacks who either provide reliable, sticky coverage or have the ability to force big turnovers will cash in, while the rare few who do both will see top-of-the-market deals.

Maybe the most underrated corner in the league in terms of media attention is Darius Slay of the Detroit Lions. The 6’0”, 192-pounder is only 25 years old, but his 2015 campaign finished spectacularly. He’s the next young corner to transform into a star, and the Lions must keep him as a building block.

According to Pro Football Focus, Slay had the 16th-highest grade among all corners last year, and first of all who were targeted 100 or more times. He’s going to cash in if he hits the open market, as he’s a more consistent coverage player than Janoris Jenkins, who received a five-year, $62.5 million contract in free agency from the New York Giants.

The Lions may save a little by addressing his deal now. Paying Slay as a top-seven cornerback would lock him in until his age-30 season, right when the team may want to re-evaluate its options as his prime ends.

Projected extension: five years, $60 million, $27 million guaranteed

Emmanuel Sanders, WR, Denver Broncos

David Zalubowski/Associated Press

2015 statistics: 76 receptions, 1,135 yards, six touchdowns

One of the more underrated receivers in the NFL over the past two seasons is Emmanuel Sanders of the Denver Broncos.

Overshadowed by a star-studded roster including fellow receiver Demaryius Thomas, Sanders is one of the most devastating route-runners in the league. The 5’11”, 186-pound late-bloomer has outproduced his previous four-year stint in Pittsburgh in just two seasons with the Broncos.

Entering the final year of his contract, the 29-year-old Sanders will look to cash in with one more big contract. According to Mile High Sports Radio host Eric Goodman, Sanders is looking for $12 million a year with his extension.

That number is considerably higher than his peers who have received extensions this summer already. Both Jacksonville Jaguars receiver Allen Hurns and San Diego Chargers receiver Keenan Allen have new four-year deals in the $10 million-a-year ballpark, which is the same magic number the Broncos should target.

Per Over the Cap, the Broncos don’t have much salary-cap room to work with this season but have over $60 million in 2017 to tap into. Extending Sanders now would ensure their stellar cast of offensive weapons stays together another several seasons. That’s key for 2016 first-round quarterback Paxton Lynch to have at his disposal for his growth.

Expect a similar deal on a per-year basis for Sanders as Allen and Hurns have earned.  

Projected extension: three years, $31 million, $15 million guaranteed

Stephon Gilmore, CB, Buffalo Bills

Brett Carlsen/Getty Images

2015 statistics: 36 tackles, three interceptions, 18 passes defensed in 12 games played

A more well-known young star at cornerback is Stephon Gilmore of the Buffalo Bills.

The former 10th overall pick in the 2012 NFL draft found his stride in 2014 and continued to play at a high level this past year. As far as his on-field impact is concerned, he’s a shutdown cornerback.

At just 25 years old, Gilmore is another young piece on this list that a defense won’t be able to easily or realistically replace. Reliable, playmaking corners are incredibly rare, and Gilmore is in the tier right below. He’s worth top-10 corner money as long as he’s healthy.

But there’s the big question with Gilmore: He’s missed 14 games in the last three years due to various injuries. Considering health is a skill, Gilmore does have that major negative sticking out like a sore thumb on his resume.

The Bills may be able to get Gilmore on a more team-friendly structure since he hasn’t played a complete season since 2012. Guaranteeing two seasons instead of three would give the team more control over Gilmore in case injuries pile up.

Projected extension: five years, $58 million, $24 million guaranteed

Alshon Jeffery, WR, Chicago Bears

Lenny Ignelzi/Associated Press

2015 statistics: 54 receptions, 807 yards, four touchdowns

Few wide receivers currently playing have produced as much on their rookie contracts as Alshon Jeffery has.

The massive 6’4”, 230-pound Chicago Bears receiver has easily outperformed his second-round draft investment from the 2012 NFL draft. He’s amassed 252 receptions, 3,728 yards and 24 touchdowns in 51 games played.

He was on his way to a career season in 2015, but a hamstring injury landed him on the injured reserve after playing nine games. Jeffery has had trouble staying on the field throughout his first four years, finishing all 16 games just once. His talent or impact isn’t a question, but his reliability for each season is.

Nevertheless, the need for a No. 1 receiver like Jeffery is immense. The Bears are looking to make a playoff push in the next two years, so losing Jeffery isn’t a realistic option. With $24 million open cap space this year and another $57 million next season, giving Jeffery a large extension that guarantees a little more than two years of salary should seal the deal, based on Vincent Jackson’s and Jeremy Maclin’s contracts.

Projected extension: five years, $55 million, $28 million guaranteed

All stats used are from Sports-Reference.com. All contract information provided by Spotrac, unless otherwise noted.

Ian Wharton is an NFL Featured Columnist for Bleacher Report.

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