The Los Angeles Chargers agreed to a multi-year extension with wideout Mike Williams before Tuesday's franchise-tag deadline, the team announced.
The deal is reportedly for three years and worth $60 million, including $40 million guaranteed and $28 million in the first year, a source told ESPN's Adam Schefter.
His $20 million average annual contract value would position him just outside the NFL's top three receivers, per Spotrac.
The Chargers were reportedly determined to secure the wideout's services long term and were prepared to franchise tag him if they couldn't reach an agreement before Tuesday's deadline.
A former top-10 pick in 2017, Williams' 1,146 receiving yards last season not only led the team but were also a career high. His deep-threat ability has been a key fixture for a Chargers offense led by Justin Herbert, who connected with him for nine touchdowns in 2021.
Williams has formed a lethal receiving duo with teammate Keenan Allen in recent years. The pair combined for 2,284 receiving yards and 15 scores last season.
