The Eagles have signed wide receiver Alshon Jeffery to a four-year contract extension that runs through 2021, the team announced Saturday morning.
ESPN’s Adam Schefter reported the extension is worth $52 million over four years with $27 million guaranteed.
With an average of $13 million, the deal makes Jeffery the eighth-highest-paid wide receiver in the NFL based on average annual salary.
Jeffery is the second veteran offseason acquisition the Eagles have signed in recent weeks to a one-year deal to a multi-year, multi-million dollar contract extension. They secured Tim Jernigan last month.
“First of all I just want to thank Jeffrey Lurie and the entire Eagles organization,” Jeffery said. “I love it here.
“I’m blessed to have the opportunity to play for this organization and for these fans. Everyone has welcomed me with open arms and now I’m looking forward to being here for a long time. We have a great group here and I’m excited to be a part of it.”
Jeffery hasn’t put up huge numbers in his first 11 games with the Eagles, but his chemistry with Carson Wentz seems to be growing each week.
He has 17 catches for 265 yards and five touchdowns the last four games and is 43 for 619 with seven TDs so far this year.
Although he only ranks 42nd in the NFL in catches and 30th in yards, Jeffery is tied for fifth in touchdown receptions.
The seven TD catches match the second-most of Jeffery’s career. He had 10 in 2014 with the Bears.
Jeffery takes a streak of four straight games with a touchdown catch into Seattle Sunday night and is just two shy of the team record of six, set in 1985 by Mike Quick.
Jeffery, 27, needs just 203 yards for his best season since 2014, his second consecutive 1,000-yard season with the Bears.
The Eagles revamped their wide receiving corps during the offseason, cutting ties with Jordan Matthews, Paul Turner, Dorial Green-Beckham and Bryce Treggs.
Jeffery was the centerpiece of the rebuild, and both sides took a chance on a one-year, $9.5 million deal. The Eagles, facing some difficult cap decisions in 2018, risked losing Jeffery this offseason, and Jeffery risked hurting his value if he didn’t produce.
According to Spotrac, the only wide receivers with a higher average annual salary than Jeffery are Antonio Brown ($17 million average per year), DeAndre Hopkins ($16.2 million), A.J. Green ($15 million), Julio Jones ($14.25 million) and Demaryius Thomas and Dez Bryant ($14 million).
The $27 million in guaranteed components is also the eighth-highest figure among receivers.
It’s quite an investment on a receiver who hasn’t made a Pro Bowl since 2013 and hasn’t had a 1,000-yard season since 2014.
But the Eagles believe Jeffery is the perfect receiver for Wentz to grow with. It took a few weeks but their chemistry recently, especially in the red zone, has been one of the biggest reasons Wentz is having an MVP season and the Eagles are an NFL-best 10-1 and take a nine-game winning streak into Seattle Sunday.
One thing the Eagles really liked about Jeffery early on was that even though he wasn't putting up big numbers — four of his first seven games he had fewer than 40 yards — he always showed a team-first mentality and supported his younger teammates.
"That's one of the things that I love about Alshon," offensive coordinator Frank Reich said. "Even early on when the ball wasn't going to him as much, totally unselfish, hard worker.
"You just know these things take time — the chemistry, the opportunities — and so the confidence level grows. He's made some huge plays … and that's why he's here."