The pecking order for TEs has changed, in terms of contract value! The market for tight ends has officially been reset; however, it was by somebody that no one expected. It wasn’t Travis Kelce, or George Kittle, or Mark Andrews, or Dallas Goedert, or even Darren Waller. No, the market was reset by none other than Vikings TE TJ Hockenson.
This blockbuster news comes from Ian Rapoport, who reported that Hockenson and the Vikings had agreed to terms on a “mega” contract extension. ESPN’s Adam Schefter came in later with details on the contract extension:
“Compensation update: TJ Hockenson is signing a four-year, $68.5 million contract extension that resets the tight end market, source tells ESPN. The $17.125 million annual average and $42 .5 million guarantee are the highest for a tight end in NFL history.”
Here is now the new per year average looks like for the highest paid TEs:
T.J. Hockenson $17.125M
Darren Waller: $17M
George Kittle: $15M
Travis Kelce: $14.31M
Dallas Goedert: $14.25M
Mark Andrews: $14M
Here’s a look a couple of contract details from two of the more well known TEs around the league: Kelce & Kittle.
Kelce signed a 4 year, $57,250,000 contract with the Kansas City Chiefs, including $22,750,000 guaranteed, and an average annual salary of $14,312,500, according to spotrac. In 2023, Kelce will earn a base salary of $11,250,000 and a workout bonus of $250,000, while carrying a cap hit of $14,801,667 and a dead cap value of $7,655,000. The longtime Chief finished 2022 with his 7th straight 1,000 receiving yards season (1,338 yards), and his 9th straight season of finishing over 12 ypc. This not even factoring in his career high 12 receiving touchdowns. An unprecedented feat that surely makes his payday worth every penny. Kelce isn’t scheduled to become a free agent until 2026.
Kittle signed his contract-extension back in 2020. His five-year, $75 million contract included an $18 million signing bonus, which made him the highest-paid tight end in NFL history at the time. This year, according to spotrac will earn a base salary of $11,650,000 while carrying a cap hit of $18,033,740. As well as a dead cap value of $20,637,300.
Hockenson enjoyed a breakout year in 2022, especially after being traded from the Lions to the Vikings. Now, he gets to reap the benefits and enjoy the fruits of his labor. Fans already are saying it’s a massive overpay. Is it overpay? Only time will tell; Hockenson will have to put in work to prove the team right in their decision.
The #Vikings and TJ Hockenson have agreed to terms on a big contract extension, as the former #Lions star gets paid with his new team, per me and @TomPelissero. Minnesota traded for Hockenson last season, now lock him in long-term as one of the highest paid TEs. pic.twitter.com/KHVy5Gtd1U
— Ian Rapoport (@RapSheet) August 31, 2023
Compensation update: TJ Hockenson is signing a four-year, $68.5 million contract extension that resets the tight end market, source tells ESPN. The $17.125 million annual average and $42 .5 million guarantee are the highest for a tight end in NFL history. https://t.co/v33TTeeS4D
— Adam Schefter (@AdamSchefter) August 31, 2023
TJ Hockenson had leverage in negotiations after what Minnesota gave up to get him and then how productive he was (70 receptions for 648 yards in 11 games (10 regular, one postseason).
He used the leverage to get a market-resetting deal. The TE market gets a much-needed bump. https://t.co/3xNI1OmRmk
— Ari Meirov (@MySportsUpdate) August 31, 2023
