Heading into the 2026 offseason, two of the NFL’s best wide receivers from 2025 will be eligible for a contract extension. Those two players are Puka Nacua of the Los Angeles Rams and Seattle Seahawks wide receiver Jaxon Smith-Njigba.
While Njigba was a first-round pick and has a fifth-year option, the Seahawks will almost certainly look to get their star wide receiver locked in as soon as possible. Similarly, the Rams could wait until Nacua’s contract expires at the end of the season. However, waiting could end up costing the Rams with Drake London, Chris Olave, and Zay Flowers also eligible for extensions.
When the Dallas Cowboys were in the process of extending Cee Dee Lamb, they made the mistake of waiting too long and it cost them almost $5 million. At the beginning of the offseason, they may have been able to get Lamb for around $30 million per year. However, Amon-Ra St. Brown and AJ Brown signed for $30 million and $32 million. Shortly after, Justin Jefferson signed for $35 million before Lamb and the Cowboys agreed to a deal for $34 million. Over the course of a four-year contract, the Cowboys cost themselves over $15 million.
As it stands, Puka Nacua’s market value according to Spotrac is $38.5 million per year while JSN’s is $37.7 million. That’s below Ja’Marr Chase’s $40 million per year, but both Nacua and Smith-Njigba will be looking to surpass that number. As Smith-Njigba said earlier this offseason,
“I know my time is coming, and when we get it done, it’s going to be a great deal…I believe I deserve to be the highest paid in my position. Just what I give to the game and the community, I give it my all, and I think that’s worth a lot more.”
Over the past two years, Nacua is second in the NFL in receptions and yards behind only Smith-Njigba. With that said, on a per game basis, Nacua leads by a wide margin. In fact, Nacua’s 95.3 yards per game in his career are the most in NFL history. Nacua is second in NFL history in total receiving yards for a player in their first three years. The Rams wide receiver is also fourth in receptions for a player in their first three seasons in NFL history.
There is a serious argument to be made for Nacua as the NFL’s highest-paid wide receiver. He arguably should have won the Offensive Rookie of the Year in 2023. Despite out-producing Smith-Njigba last season, Nacua was beaten out for the Offensive Player of the Year. However, he has made the Pro Bowl twice and is a first and second-team All-Pro.
The Rams and Seahawks may try to get something done between the $35 million and $40 million gap that separates Jefferson and Chase. Given how both players have produced, it wouldn’t be surprising to see both try to surpass that number. That will especially be the case if the Falcons get something done with Drake London who could bridge that gap.
This really comes down to which player’s contract gets done first between Nacua and JSN. The Rams will have the benefit of time on their side as Smith-Njigba technically has two years left on his rookie contract. Still, the Rams could always franchise tag Nacua which is what the Cowboys have done with George Pickens. The Rams haven’t been a team to utilize the franchise tag, but it is certainly an option. Even with the tag, Smith-Njigba’s camp can wait to see what Nacua and London get and then try and beat that number. Conversely, there will be more pressure on the Rams to get something done this offseason with Nacua to try and save money in the long run.
At the end of the day, Nacua may cost over $40 million per year, but getting his contract done now and before JSN will cost less in the long-run. Nacua and Smith-Njigba competed for recognition as the NFL’s best wide receiver in 2025. It won’t be long before both are competing to be the NFL’s highest-paid wide receiver as well.
