The Atlanta Falcons overpaid on a Drake London extension. The receiver signed a four-year, $141.5 million contract, including $100 million guaranteed, on June 3. The new contract locks him into a deal through 2030 with an annual salary of $35.25 million.
London is now the third-highest paid wide receiver in the NFL. Only Jaxon Smith-Njigba and Ja’Marr Chase are making more than him on a year-to-year salary. This puts him ahead of Justin Jefferson, CeeDee Lamb, and Amon-Ra St. Brown.
Why This Is Considered An Overpay
The Falcons’ top receiver deserved a big extension after four strong years since getting selected 8th overall in the 2022 draft. London has led Atlanta in receiving yards three of the past four years. With his new deal, though, he’s an outlier among the league’s highest paid pass catchers.
London has never been named a Pro Bowler or an All-Pro, and has only hit the 1,000-yard mark once in his career. He’s coming off a season where he played just 12 games and failed to catch 70 balls.
Lamb and Chase have each made five Pro Bowls, while Jefferson and Smith-Njigba are Offensive Player of the Year winners. Even players making less money than London, like St. Brown, A.J. Brown, and Garrett Wilson, are more proven WR1’s.
For a deal this expensive, London should be as proven as these other superstars. When discussing the best receivers in the game, rarely will his name be brought up. Most analysts and fans would rank the USC product right around the top 10, maybe a bit outside. This contract pays him like he’s inside the top five.
Why It Might Work
To play Devil’s advocate, maybe the deal works out for the Falcons. Michael Penix Jr and Tua Tagovailoa will battle it out for the starting quarterback spot. Kyle Pitts Sr just had the best season of his career since his rookie year. Bijan Robinson is arguably the best running back in the NFL. Atlanta’s offense has the potential to be dangerous; and London is the undisputed top receiving option, with Jahan Dotson, Olamide Zaccheaus, and rookie Zachariah Branch rounding out the lackluster group. This should lead to an abundance of targets.
New head coach Kevin Stefanski is known as a strong offensive coach, and his gameplan will center
around a young core and a relatively weak schedule, that could lead to a big year for London. To live up to the contract, the 6-foot-5 receiver will need a career-best season.
The Domino Effect
Potentially the biggest winner of this deal is Puka Nakua. The reigning Super Bowl champion is due for an extension that could reach a record-breaking $40 million average annual salary (AAV). He is arguably the best receiver in football and will be paid like it soon enough.
Other starting receivers who will be paid in the near future include Chris Olave, Christian Watson, and Zay Flowers. While they may not reach the absurdity of the London deal, all three of these guys should get extremely large extensions. George Pickens will also be looking for a new deal, playing this season under the $27.3 million franchise tag.
London’s superstar teammate Robinson will also be in line for a league-breaking extension soon. The Falcons picked up his 5th-year team option for the 2027 season, but he’ll be in line to potentially break records of his own. That deal will not be considered an overpay though, as Robinson has the resume that is deserving of whatever is coming.
