Pay That Myan Hees Munny: D.K. Metcalf Gets A Contract Extension

When in doubt, listen to Teddy KGB.

3 years, $72 million, with $30 million of that as a signing bonus, and just over $58 million guaranteed. It’s the highest signing bonus of any wide receiver in NFL history, but that’s mostly due to the way the Seahawks like to do business, with no second year guarantees built in.

So, we’ve got D.K. Metcalf through the 2025 season. He’ll still be a relative bargain – assuming he stays healthy – for the next two seasons. Then, in 2024, the contract starts to balloon, and we’ll assume after that the economics of the NFL will come into better focus. Either he’ll have earned another contract extension, or he’ll be cut because maybe he gets hurt or the Seahawks go on a rebuild, or maybe he just plays it out and we see what happens.

I’ll be very interested to see what the wide receiver market looks like after 2024. As we’ve seen this offseason, contracts for wide receivers are exploding. Some of them are downright stupid. What we’re seeing, though, is an unprecedented collection of young, elite wide receivers coming up for deals and getting paid accordingly.

It feels like a bubble, though, right? Every year there are more and more elite young receivers entering the NFL. The rules of the game today make it safer than ever to be a receiver and extend your career. At what point does the NFL unlock the magic system where teams start to realize they don’t need “elite” wide receivers? They just need some good ones, under reasonable contracts. When will Moneyball come to the NFL in regards to this wide receiver gold rush?

In the late 90s and early 2000s, the Denver Broncos showed the rest of the NFL that you could generate a quality running game with pretty much whatever running back you had on hand. If the scheme is right, and your linemen are capable, then it doesn’t totally matter who’s handling the rock. In the years since, we’ve seen running back contracts hit a definite ceiling. You have to be superman Derrick Henry to really set any kind of bar (or you have to have a senile old man running things, in the case of Ezekiel Elliott and the Dallas Cowboys). Running backs are now largely considered to be disposable and interchangable. Teams would rather have a collection of cheap, competent runners – making the lives of fantasy football owners miserable in the process – because of what I stated above, combined with the likely injury risk every running back faces.

In short, the running back bubble burst. I think that’s coming for the wide receivers next.

What we know for a fact is that the quarterback bubble is never going to stop expanding. It’s like the universe itself; it’s just going to keep going and going until the end of time. The quarterback bubble is going to likely expand at a greater rate than the NFL salary cap as a whole expands. So, teams are going to have to find a way to cut costs somewhere. Receiver seems like the most likely best option.

So, I guess, what I’m trying to say is good for D.K. Metcalf! Good on him for being drafted at the right place, at the right time in NFL history! Good for him being so elite!

Now, he’s gotta catch balls from the likes of Geno Smith or Drew Lock. Now, he’s gotta suffer through an uncertain quarterback future where a likely rookie takes over in 2023. Now he’s gotta try and help us bridge the gap between Russell Wilson and whoever our next elite quarterback ends up being.

My guess? D.K. Metcalf won’t be here the next time the Seahawks have an elite quarterback. That’s just playing the odds, though.

TL;DR, do I like the move?

This is one of those I struggle to have a strong opinion about. The pure, raw, emotional fan in me likes having D.K. Metcalf in a Seahawks uniform because he’s so damn fun to watch. I’ve been on him since the day we drafted him, and he’s yet to let me down. And, as we enter this period of shaky quarterback play, I know for a fact that this offense is going to be a fucking bummer to watch week-in and week-out. Give me SOMETHING to look forward to. If football is supposed to be entertainment, then from a pure entertainment perspective, there’s no one else like D.K. Metcalf on this team. His bigtime catches, his bruising playing style, his ability to get under the skin of opponents: inject it all into my veins.

The rational, analytical fan in me, however, wonders what the point is. Are we rebuilding or not? The team would never admit to such a thing, but it seems clear with the quarterbacks we’ve got on the roster that we’re not REALLY playing for 2022. It’s obvious to anyone with half a brain that – unless they make a deal for Jimmy G – the plan is to use a high draft pick next year on our quarterback of the future.

So, what we’ve done is effectively signed D.K. Metcalf through his prime years. He’s never going to be much better than he is right now. He might be smarter, more savvy. But, the combination of athleticism and speed is never going to be better than it is right now. For one of those prime years, he gets Geno/Drew throwing somewhere in his vicinity. For another of those prime years, he gets a rookie (who will likely be playing with training wheels, like Russ did for much of 2012). Then, we’ll see, but we know for sure that half of his remaining years here will be a struggle.

How will that affect his psyche? How will he respond on the sidelines? I don’t care who you are, when you make a name for yourself in the NFL and start getting paid at near the top of the market, you get a big head. It happens to everyone. And wide receivers are fucking divas, man. That’s just the way it is. When will he get disgruntled and start making scenes because he’s not getting the ball enough? You know it’s going to happen. Is this all going to be pointless, because he’s never going to be part of the next great Seahawks team, whenever that ends up being?

And, of course, the dynasty fantasy football owner of D.K. Metcalf is annoyed because his value is effectively decimated. I just have to hope that he gets enough TD opportunities throughout the years to make up for his dearth in actual receptions.

Overall, though, I think I’m more happy that he’s here and I get to continue watching him every week. I also do see the value in not totally bottoming out from a talent perspective. Having guys like D.K. around keeps everyone else engaged and trying hard. It shows that – in spite of our terrible QB situation – we’re still interested in turning things around and ultimately winning it all. It’s just going to require some patience.

That having been said, my philosophy hasn’t changed either. If I had my druthers, we’d be constantly running it back with the likes of Doug Baldwin, Jermaine Kearse, and Golden Tate. Give me mid-tier guys with good hands and clean route running over a monster #1 receiver. What’s good for fantasy football isn’t always good for winning NFL games.

Thankfully, I don’t expect the Seahawks to win too many of those over the next year or two. So, the least we can do is have some fun watching D.K. Metcalf make opponents’ lives miserable.

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