3 Observations on Evan Engram's Contract Extension With the Jaguars

What do we make of Engram's deal now that he is officially in Jacksonville for the next several seasons?

The Jacksonville Jaguars checked off one of their biggest goals of the offseason on Sunday, signing tight end Evan Engram to a three-year $41.25 million deal with $24 million in guarantees.

With Engram now locked into the roster for the foreseeable future, what do we make of the deal? We break it down with our three thoughts below. 

Engram's bet on himself worked out for both sides

Engram took a big leap last March, turning down a multi-year contract with the Jaguars in favor of a one-year deal. Engram was confident in his abilities and knew that he was a better player than his New York Giants tenure indicated, and he was right. For Engram, the year in Jacksonville ensured that he would have the ability to command a larger market in 2023 and beyond than he did in his first tenure as. For the Jaguars, it meant the ability to find a long-term answer at tight end.

But ultimately, the Engram deal goes beyond that. For the Jaguars' locker room, it shows that the Jaguars are an organization willing to reward their hardest workers and most productive players. For the Jaguars, Engram's willingness to return to Jacksonville on a long-term basis and his genuine desire to be a part of the organization shows how far they have come. And for Engram, he is an example of beating one's past, with his prove-it year helping him shed any "bust" label that followed him from New York.

Engram still finds a win in negotiations despite the Jaguars' leverage

Engram didn't break the bank or reset the market with his deal, ultimately landing a contract that has him paid somewhere in the No. 5 to No. 10 range in terms of overall value, practical guarantees, and average annual value. But he did manage to find a win out of the franchise tag situation despite the Jaguars having all of the available leverage, which is a rarity when it comes to franchise-tagged players near the end of the deadline in today's NFL.

Essentially, Engram's $41.25 million over the next three years is the same price that another two years of franchise tags would have cost. His $24 million guaranteed is the same that he would have made in terms of guaranteed money on a tag this year and next year, but this way he gets the added second year of security right from the jump. In many ways, it is like tagging Engram for multiple years without the downside of the franchise tag's short-term length.

This is the best-case scenario for Brenton Strange

When the Jaguars drafted Penn State tight end Brenton Strange in the second round of the 2023 NFL Draft, many assumed it was a pick made in relation to Engram's contract negotiations. As a result, there were likely a few raised eyebrows about the Strange selection after Engram was signed to a long-term extension. But for all intents and purposes, Engram being locked in with the Jaguars for the next two to three years is actually the best-case scenario for the rookie tight end. 

Considering tight end is one of the toughest positions in football to develop as a young player, it never made much sense for the Jaguars to force themselves to rely on a rookie or second-year player to fill such a huge role in the offense. It will likely take Strange roughly the length of his rookie contract to be able to step into a role like Engram's, which means that the Jaguars have done right by the second-year tight end with the Engram extension. Strange has a lot of talent, and now he can take the time to develop that talent before being thrown to the wolves.