If you haven't heard by now, the Atlanta Falcons and fifth-year wide receiver Drake London agreed on a four-year, $141 million contract with $100 million in guarantees. The $32.25 million in annual salary will give him the third-highest mark in the NFL behind Seattle Seahawks wide receiver Jaxon Smith-Njigba ($42.15 million APY) and Cincinnati Bengals wide receiver Ja'Marr Chase ($40.25 million APY).
The move came almost a week after the Houston Texans gave a pay raise to their own home grown pass catcher in Nico Collins, who's last two contract years just became fully guaranteed, along with a bonus of $17 million extra dollars. Collins's yearly compensation now sits at almost exactly $30 million in cash value, which lands him right outside of the top-10 at the position. This addition alters a 2024 pact between the two sides, as Collins originally re-signed with the club on a three-year, $72 million contract that provided him roughly $24 million in annual salary.
It's a colossal financial win for the Texans, who yet again find a way to handsomely reward their star players without being gouged by the NFL marketplace. Maximum value is the name of the game, and general manager Nick Caserio and co. continue to show mastery of it.
Texans maintain excellent value in Nico Collins contract
The fact that there are roughly 10 receivers who make more yearly dollars than Collins at a time where he's been one of seven most prolific at the position since 2023 is quite the reality. In that span, Collins ranks ninth in total receiving yards (3,420), second in average (15.6), seventh in yards per game (81.4) and tied for sixth in receiving touchdowns (21). Those stats put him among the likes of Justin Jefferson (Minnesota Vikings), A.J. Brown (New England Patriots) and Amon Ra St. Brown (Detroit Lions) in overall performance, yet all three make more annually than he does.
He's helped spearhead a receiving core that has contributed to three consecutive AFC playoff berths and three-straight trips to the AFC Divisional round. On an indvidual level, Collins just eclipsed 1,000 yards for the third season in a row, which made him only the third receiver in franchise history to accomplish the feat (Andrew Johnson, DeAndre Hopkins).
By comparison, London hasn't accomplished nearly as much as Collins has in his first four years with the Falcons. Although, the carousel of quarterbacks and head coach firings he's had to endure surely has a lot to do with it. Even still, London has only gone for over 1,000 receiving yards once (1,271 in 2024) and he's coming off his fewest games played in a regular season at 12 (sprained PCL).
What does work in his favor is that he's played in 16 or more games in three out of his four professional seasons, he's caught seven or more touchdowns passes in back-to-back seasons and his new head coach in Kevin Stefanski is a two-time NFL Coach of the Year who has a reputation for developing offenses. With that in mind, this appears to be a proactive move that not only takes him off the market at a somewhat reasonable rate, but also puts Atlanta in prime position to benefit the most from a projected jump in production for the former USC Trojan (whether by play or by trade).
Regardless of the reason, London now ranks above Collins in yearly compensation. This continues a trend by Houston of navigating an increasingly expensive league spending space where timing trumps talent more often than not. Caserio and the crew have made it their business to pay their best players before matters get dragged out in the court of public opinion. It's helped them to maintain premium flexibility while also sending the message that they do indeed value the services of their committed personnel members.
Collins is the latest beneficiary of that plan, and you can bet that more is still to come if the Texans have anything to say about it.
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