With costs for veteran WRs soaring, NFL teams could stock up in deep draft class

As evidenced by the contracts handed out during the offseason, the cost of doing business with NFL wide receivers is skyrocketing.

In March, the Las Vegas Raiders traded for Davante Adams, then gave the former Green Bay Packers star the biggest deal ever afforded to a pass catcher — $141.25 million over five years with $65.67 million guaranteed.

That record-setting deal lasted all of two days. The Kansas City Chiefs dealt Tyreek Hill to the Miami Dolphins, who signed him to a four-year, $120 million contract that included $72.2 million guaranteed.

As far as a team keeping its franchise receiver, it took $70 million in guaranteed money for the Buffalo Bills to extend Stefon Diggs for four years, $96 million. And, in free agency, Christian Kirk set the bar with a four-year, $72 million deal with Jacksonville that included $37 million guaranteed.

All of those contracts present a huge bump in locked-in finances for a wide receiver since the Pittsburgh Steelers made Antonio Brown the highest-paid player at his position five years ago with a four-year, $68 million deal that included a $19 million signing bonus – a paltry sum compared to today’s standards.

“The league is telling you that the second most valuable position is receiver – after quarterback,” ESPN draft analyst Todd McShay said. “It used to be left tackle, edge rusher and then maybe four or five down the line you’d get to wide receiver. That has changed, and it’s never been more apparent.”

Even marginally talented wide receivers are getting eight-figure contracts. Dallas gave Michael Gallup $27 million guaranteed and $57 million over five years, and his resume has featured one 1,000-yard season, no Pro Bowls and 193 career catches over four years.

Top receivers have noticed, and it’s the reason Deebo Samuel, Terry McLaurin and A.J. Brown have contemplated holding out rather than attend offseason workouts. All are products of the 2019 draft – with all being selected after the first round.

That final point is important. They aren’t subject to contract options that can bind first-round picks to NFL teams for a fifth season.

Given the financial explosion at the position, NFL teams have learned that one way to keep costs down is, as the Chiefs and Packers showed, to trade away their stars rather than play big salaries. And then replenish the position with first-round draft picks and watch them develop while playing on their five-year rookie deals.

“The beauty is you’re getting bargain prices because they are rookies and there is a rookie salary cap,” McShay said.

This trickle-down system coincides with an uber-talented 2022 wide receiver draft class. As many as seven receivers could be selected in the first round. That’s an uptick from five that were selected in the 2021 first round and six in 2020.

“I just think right now the hit rate is pretty high in the first round, and you get an extra year of cost control with that fifth-year option,” NFL Network draft analyst Daniel Jeremiah said. “If you really like one of these guys, just take him. … I think you’ll see them fly off the board.”

Jeremiah said that while this year’s wide receiver crop is deep, none of the top pass catchers can match the grades given to 2021 first-rounders JaMarr Chase, Jaylen Waddel and DeVonta Smith – a trio that were top 10 selections.

“I would probably take those guys over anybody in this group,” he said, “but I really like this group.”

Added ESPN analyst Mel Kiper Jr.: “I think it’s the strongest position in the draft by far. You’re going to get some decent receivers in the later rounds.”

The top receivers come from some of college football’s premier programs. Ohio State has two in Garrett Wilson, who is viewed as the top prospect, and Chris Olave. USC’s Drake London, Alabama’s Jameson Williams , who had ACL surgery after the national championship game, are joined by Penn State’s Jahan Dotson and Arkansas’ Treylon Burks atop most draft boards.

Again, given the cost control provided by the fifth-year option, more wide receivers could go in the first round than any other position.

“Every year it seems like I feel teams are getting these unbelievable values and people say, ‘Oh, yeah, the second and third round is the sweet spot,’” Jeremiah said. “I’m saying, these are first-round players that they are getting there. These are some of the higher-rated players in the draft.

“I think what’s going to happen this year is there’s going to be a little bit of a correction there, and you’re going to see these receivers going more closely to where they’re slotted and where they are graded. I don’t think teams are going to be pushing them down as much as in the past knowing that they can just afford to wait. It’s too expensive to go get one of those veterans.”

The Steelers could be tempted to use the No. 20 overall pick on a wide receiver after losing JuJu Smith-Schuster, James Washington and Ray-Ray McCloud in free agency. If the Steelers don’t use a first-round pick on a receiver, they likely will target one in the second with the No. 52 selection.

Kiper recently had the Steelers taking Alabama receiver John Metchie, who tore his ACL in the SEC championship game, in the second round of a mock draft.

“He’s an excellent slot receiver,” Kiper said. “Explosive coming out of the break.”

Another option is Western Michigan’s Skyy Moore, who is from New Kensington and attended Shady Side Academy.

Top 5 wide receivers

1. Garrett Wilson, Ohio State, JR, 6-0, 183

Two-year starter and three-year contributor for the Buckeyes, Wilson was a second-team All-American last year after catching 70 passes for 1,058 yards and 12 touchdowns. He also returned punts and ran the 40-yard dash in 4.38 seconds at the NFL Combine.

2. Drake London, USC, JR, 6-4, 219

London started nine games as a freshman, then led the Trojans with 502 receiving yards on 33 catches in covid-shortened 2019. He missed the end of his junior season with a fractured right ankle but was named Pac-12 offensive player of the year after catching 88 passes for 1,084 yards and seven touchdowns.

3. Jameson Williams, Alabama, JR, 6-1, 179

Williams transferred from Ohio State after the 2020 season. In his lone year with the Crimson Tide, he was fifth in FBS with 1,572 receiving yards while catching 79 passes. His 15 receiving touchdowns also tied for third, and he was named a first-team All-American.

4. Chris Olave, Ohio State, SR, 6-0, 187

Olave caught 12 touchdown passes and averaged 17.5 yards per catch as a sophomore. In 2021, his next full season, he became a second-team All-American after tying for sixth in FBS with 13 receiving touchdowns. He finished as Ohio State’s touchdown receptions leader with 35. He also had 936 receiving yards in 12 starts as a senior.

5. Treylon Burks, Arkansas, JR, 6-2, 225

Burks was a three-year standout for the Razorbacks, leading the team in receiving yards each season. He capped his career by catching 66 passes for 1,104 yards and 11 touchdowns. He was named a first-team all-conference pick in the SEC.

Best fit for Steelers, 1st day

Chris Olave, Ohio State

As evidenced by his 35 touchdown catches, he has a nose for the end zone. Olave also would give the Steelers a speedster they have lacked in recent years. He ran the 40 in 4.39 seconds at the NFL Combine.

Best fit for Steelers, 2nd day

Skyy Moore, Western Michigan

Playing for the Steelers would represent a homecoming for the New Kensington native. He fits the role of a slot receiver at 5-foot-10, 195 pounds. He ran the 40 in 4.41 seconds. He caught 95 passes for 1,292 yards and 10 touchdowns in his junior season in 2021.

Best fit for Steelers, 3rd day

Kyle Phillips, UCLA

ESPN’s Mel Kiper called Phillips a Hunter Renfro clone. He is 5-foot-11, 189 pounds and ran the 40 in 4.58 seconds. The redshirt junior led the Bruins in receiving three years in a row and was a four-year punt returner.