Washington Commanders sign WR Terry McLaurin to a 3-year contract extension

Terry McLaurin is staying in Washington.

According to ESPN's Adam Schefter, the Washington Commanders have signed McLaurin to a three-year extension worth up to $71 million in new money that will keep the star receiver in the nation's capital until at least 2025.

The fourth-year pro was entering the final year of his rookie contract, which was set to pay him a base salary of $2,790,000. Now, he gets a considerable pay raise — his deal includes a $28 million signing bonus, the largest given to any wide receiver, and also comes with 76.4% of the new money guaranteed.

Receivers from the 2019 NFL Draft class: Highest PFF receiving grade since 2019 (regular season only)

Click here to view Terry McLaurin's career in PFF Premium Stats

In early June, Schefter reported that McLaurin planned to skip the team's mandatory minicamp as he sought a contract extension consistent with those recently signed by the likes of A.J. Brown, Hunter Renfrow and Cooper Kupp. But now he's signed on the dotted line, McLaurin can get right to work with new quarterback Carson Wentz.

It's easy to see why the former Ohio State receiver wanted his payday. Since being drafted with the 76th pick of the 2019 NFL Draft, McLaurin ranks second among his classmates in targets, receptions, receiving yards (3,090) and PFF receiving grade. He ranks tied for first with D.K. Metcalf in explosive plays of 15 or more yards, with 76.

McLaurin has generated 1.18 Wins Above Replacement (PFF WAR) over the last three seasons, seventh among wide receivers. He narrowly misses out on a star-studded top-five that includes Davante Adams (1.84), Cooper Kupp (1.40), Stefon Diggs (1.33), Tyreek Hill (1.31) and DeAndre Hopkins (1.26).

While the Commanders' decision to trade for Carson Wentz was greatly criticized, Wentz will undoubtedly be the best quarterback the newly signed McLaurin has worked with in the NFL. And that's problematic for opposing teams, considering how productive McLaurin has been to start his career.