They were teammates at LSU. They’re now the two highest-paid receivers in the NFL.
So how do the contracts signed by Justin Jefferson of the Vikings and Ja’Marr Chase of the Bengals compare?
As it relates to new-money annual average (an often flawed way to value contracts), Jefferson is at $35 million per year and Chase is at $40.25 million. (Given the bloated final year of the deal, Chase’s real new-money APY is more like $38.728 million.)
Here are some other apples-to-apples comparisons of the two contracts.
Regarding full guarantees at signing, Jefferson has $88.743 million through Year 1, $95.743 million through Year 2, and $110 million through Year 3. Chase has $73.9 million through Year 1, $103.9 million through Year 2, and $112 million through Year 3.
Remove the per-game roster bonuses from the calculations, and Jefferson’s numbers are $87.723 million, $94.723 million, and $108.98 million. For Chase, they’re $72.9 million, $101.9 million, and $109 million.
The injury guarantee at signing is $110 million for Jefferson and $109.8 million for Chase.
On cash flow, the numbers favor Chase. Through Year 1, Jefferson is at $38.063 million and Chase is at $41.16 million. Through Year 2, Jefferson is at $69.993 million and Chase is at $75 million. Through Year 3, Jefferson is at $95.743 million and Chase is at $105 million. Through Year 4, Jefferson is at $125.743 million and Chase is at $138 million. Through Year 5, Jefferson is at $159.743 million and Chase is at $182.816 million. (Again, Chase’s final year is bloated.)
Removal of the per-game active roster bonuses makes things considerably tighter, since Chase has $5 million tied to being able to suit up and play. Jefferson’s number is roughly $2 million.
Both deals are very strong. While Chase’s deal is better on all metrics, it’s not dramatically better. And the cap doesn’t reflect the low-hanging, oft-misleading new-money APY gap.
