Eagles sign WR DeVonta Smith to three-year, $75 million extension

Wide receiver DeVonta Smith won’t need to play out his fifth-year option to convince the Philadelphia Eagles to keep him beyond 2024.

Ian Rapoport, NFL Network Insider, reported on Monday that the Eagles’ 2021 first-round pick has agreed to a three-year, $75 million extension. Smith’s deal, according to Rapoport, features $51 million in guaranteed money.

The team later announced the signing.

Arriving in Philadelphia, Smith was a highly acclaimed star from Alabama, boasting two national titles and concluding his college career with a Heisman Trophy and unanimous All-American selection. Despite his evident skills, his slim physique led many to question his ability to succeed at the next level.

To date, Smith holds the record for the most receptions (240) and receiving yards (3,178) in his first three seasons with the Eagles. He also made the third-highest number of receptions in a single season in the team’s history, with 95 in 2022. He is just 61 receiving yards shy of exceeding Harold Carmichael’s team playoff record. Smith is one of just seven NFL receivers with over 175 receptions, more than 2,500 receiving yards, and over 15 receiving touchdowns since the commencement of the 2022 season.

He’s skilled, with size not being an issue. Smith has established himself as a threat from deep and a machine for catches and runs. It’s unsurprising that the Eagles secured him.

It’s also wise timing on the part of the always-savvy Eagles general manager Howie Roseman, who rolled Smith’s fifth-year option — which doesn’t take effect until 2025 — into a long-term plan to retain Smith. With the fifth-year option included, Smith won’t begin accounting for the average annual value of $25 million per year until 2026, a number that currently ties him with teammate A.J. Brown for fourth-highest among all NFL receivers, but will likely look much more affordable by the time 2026 arrives.

Smith, who will be 25 years old entering 2024, is expected to stay in Philadelphia till his 29th birthday. This positions him for another high-paying contract, assuming he maintains his current career pace. With consecutive seasons of 1,000 yards and seven touchdowns, it’s highly likely Smith will prove to be worth the investment.