Everyone was on board with the Atlanta Falcons extending Drake London until they weren't. The Falcons signed him to a four-year extension worth $141.5 million (and up to $150 million) with $100 million in guaranteed money. That number may feel extreme, but it's the nature of the WR market now.
Instead of supporting a franchise going to extreme lengths to retain a homegrown star, most of the NFL world took one look at the price tag and instantly changed their tune. But if you consider how bad Atlanta's receiver room was without London, it's a miracle he didn't command JSN-like money.
With an average annual value of $35.25 million a year and a max value of $37.5 million a year, the 24-year-old didn't just become one of the highest-paid players in franchise history, he became the third-highest paid receiver in the NFL. And that's the real reason this extension was labeled an overpay.
Calling the Drake London extension an overpay is an unfair assessment
The only wideouts set to make more money than London on his new deal are Jaxon Smith-Njigba and Ja'Marr Chase, the two best WRs in the NFL. Seeing him make more than Justin Jefferson, Amon-Ra St. Brown, and CeeDee Lamb feels like a steep to pay, but it won't take all that much for it to age well.
It's a major swing to give a guy with no Pro Bowls, no All-Pros, and no playoff appearances this much money on a second contract. But he's in a unique position to prove them right. Not only should he continue to improve as Atlanta's QB play does, the ever-evolving receiver market will help matters.
As soon as George Pickens signs an extension with the Dallas Cowboys, London's contract will look better. Signing a deal before him likely means that Pickens will want more on his new deal, and he may ask for close to $40 million a year on a new contract. At least Drake isn't this much of a prima donna.
Then you have younger wideouts who will shake up the market. The 2024 class of Marvin Harrison Jr., Malik Nabers, Ladd McConkey, Rome Odunze, and Brian Thomas Jr. are all eligible for extensions after the 2026 season, and Puka Nacua (who's due even more money) is entering a contract year.
He's barely making more than Jefferson and Lamb is in that same tax bracket. If DK Metcalf, Brandon Aiyuk, and Terry McLaurin (some older, less talented receivers) are making $30 million a year, the 2022 first-round pick was going to land the money he got. This is how the receiver market works now.
Drake London is a top-10 receiver, and he deserves the top-10 money he's getting. As the NFL salary cap increases, so will the price tag to extend top WRs. Thankfully the Falcons are ahead of the 8-ball through 2030 and this contract will continue to age gracefully over time despite the initial concerns.
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