The Seattle Seahawks and Jaxon Smith-Njigba have agreed to the outline of a new contract that would keep the wide receiver in Seattle through the 2031 season and place him at the top of the market at his position.

According to a report carried by KUOW from an Associated Press source, the extension is for four years and $168.8 million, with $120 million guaranteed. The deal has not yet been finalized, but if completed it would surpass the contract recently signed by Cincinnati's Ja'Marr Chase and reset the benchmark for wide receivers across the league.

The timing is significant because Smith-Njigba has just delivered the strongest season of his career. He set Seahawks single-season records with 1,793 receiving yards and 119 catches, then won AP NFL Offensive Player of the Year. The report said the fifth-year option on his rookie deal had already been exercised, and the new extension would lock him into Seattle through 2031.

That production is what makes the reported numbers so striking. A player who entered the league as a young cornerstone has now turned elite performance into a contract that reflects both his individual growth and the broader inflation of top-end NFL receiver salaries. The reported guarantee alone, $120 million, signals that Seattle is treating him as a franchise-defining piece rather than merely a high-volume target.

Smith-Njigba’s rise also gives the Seahawks a rare security at a premium offensive position. He was central to the team’s success last season and finished the year with 282 career receptions, 3,551 yards and 20 touchdowns, according to the report. In the NFC championship game win over the Los Angeles Rams, he delivered 10 catches for 153 yards and a touchdown, a reminder that his production has carried into the biggest games.

For Seattle, the reported extension would be about more than one player. It would be a signal that the organization is willing to pay to keep its best offensive weapon in place and build around him for the rest of the decade. For Smith-Njigba, it would be a financial reward for a season that changed his standing in the league and put him ahead of every other receiver in the market.

The agreement still appears to need finalization, so the numbers remain reported terms rather than a completed transaction. Even so, the scale of the deal suggests that the next phase of the receiver market may already be here.