The New Orleans Saints let out a collective sigh when they saw the news of the Seattle Seahawks signing Jaxon Smith-Njigba to a contract extension. Meanwhile, Chris Olave is probably somewhere jumping for joy sensing that his pockets are about to get a little heavier in the near future.
Smith-Njigba walked out of his third season in the league with his first All-Pro team, was named the Offensive Player of the Year and capped off the season with a Super Bowl championship. Just when you think a year couldn't get any better, the wide receiver just became the highest paid player at the position Monday morning. a four-year extension worth over $42 million
There's another former Ohio State wide receiver looking for a contract extension this offseason. Olave also had the best season of his young career and should be looking to cash in on his success from 2025. Olave isn't going to command a value that'll set the market, but Smith-Njigba's contract helps every other wide receiver looking for a contract, Olave included.
Saints just learned the cost of waiting for a Chris Olave extension
Today's price is not yesterday's price
That's the unfortunate lesson here. If the Saints and Olave were struggling to find a middle ground for an extension, the two sides likely just got further apart. It can't be overstated that Olave isn't going to surpass or match Smith-Njigba's annual average, however, that doesn't take it off the table as a bargaining chip.
Ja'Marr Chase was the highest paid wide receiver prior to Monday at $40 million per year. Olave's agents and the Saints were unquestionably working with Chase's contract in mind as a barometer. Now, there's a new bar.
Olave's agents are likely coming back to the table with a new figure that's a better representation of the market. If the Saints were already hesitant about the number, get ready for the hesitation to grow.
Had the Saints and Olave agreed to a contract a week ago, they'd would have saved a couple million dollars. That's just the way of the league. Once the high at position rises, every other player around the league gets more. If you know you want to pay a player, it's best to go ahead and get it out the way. It'll be interesting to see what the impact on Saints and Olave will be.