The Jacksonville Jaguars have now beaten the annual NFL deadline when it comes to signing their 2023 franchise-tagged player, tight end Evan Engram, to a long-term deal. According to early Sunday reports, Engram, who was originally selected in the first round (23rd overall) of the 2017 NFL Draft out of Mississippi, has agreed to a three-year contract worth $41.25 million. On the heels of this new deal for Engram, I’m sure several fans of the Pittsburgh Steelers are now curious as to the impact it might have on a possible new contract for tight end Pat Freiermuth next summer.
For starters, Engram was wearing the franchise tag prior to agreeing to his new deal. His tag amount was $11.345 million so if the early reported numbers hold true, his new money average would be $14.9525 million, which would rank him third in the NFL right now behind fellow tight ends Darren Waller ($17M) of the New York Giants and George Kittle ($15M) of the San Francisco 49ers, according to Over the Cap.
To date, Engram has registered 335 receptions for 3,594 yards and 20 touchdowns in 82 total regular season games over a span of six NFL seasons. Last season with the Jaguars, Engram registered 73 receptions for 766 yards and four touchdowns. With him receiving the franchise tag this offseason, it made him a priority to get a new deal this summer and before next week’s deadline. He had a little bit of leverage due to the deadline because had he not signed a new deal before it, he would have had to play under the tag in 2023.
As for relating this new deal for Engram to Freiermuth, the only thing we can do right now is look at the two years’ worth of stats that the Penn State product has registered so far since being selected in the second round of the 2020 NFL Draft. To date, Freiermuth has recorded 123 receptions for 1,229 yards and nine touchdowns. Not bad at all and he’s certainly on pace to register at least another 60 receptions for at least another 600 yards in 2023.
As I previously wrote, Freiermuth is locked into a Level Two Proven Performance Escalator raise next off-season. That projected increase for 2024 is currently estimated to be $2.992 million (predicted original-round tender for RFAs) plus another $250,000. Freiermuth, however, still has a chance at qualifying for a Level Three PPE raise but to secure that, he would need to be an original ballot Pro Bowl selection after the 2023 season. That’s certainly plausible. So, at a minimum, Freiermuth will be on the 2024 books as earning at least a little more than $3 million.
Should Freiermuth stay healthy in 2023 and put numbers similar to, or better than, his two-year average so far, it will obviously put him in a great situation when it comes to him getting a new deal next offseason. While Engram’s deal he just agreed to could play a role in contract negotiations with Freiermuth next summer, it’s important to remember that two other young NFL tight ends, T.J. Hockenson of the Minnesota Vikings, and Cole Kmet of the Chicago Bears, could have new deals in place come Week 1 of the 2023 regular season. Assuming both Hockenson and Kmet sign new deals this offseason, those could easily become a floor for Freiermuth next summer.
It should also be noted that any intention to sign Freiermuth to an extension next summer could bring the threat of the 2025 franchise tag into play as well as part of the negotiations. We won’t get a better idea of the 2025 franchise tag for tight ends until we see what new deals for Hockenson and Kmet look like. To give a little perspective and as already noted, the franchise tag amount for tight ends this offseason was $11.345 million. That amount should obviously increase over the course of the next two years.
As we sit here an entire season away from getting deeper into contract extension speculation when it comes to Freiermuth, it feels like his new money average ceiling might be right around $14 million. Once, however, we see what the new deals for Hockenson and Kmet look like prior to Week 1, that speculated ceiling for Freiermuth could go a little bit higher. In the meantime, here’s to Freiermuth having a great 2023 season. If he does that, the numbers next offseason should take care of themselves.
