Bengals' Ja'Marr Chase faces big threat to record-breaking contract from 2 stars

Last offseason, Ja'Marr Chase became the highest-paid wide receiver ever when the Cincinnati Bengals gave him a lucrative contract extension.

At the time, it was the highest non-quarterback contract in the NFL. Now, Chase’s market-setting contract might get surpassed twice by two well-deserving wideouts.

Michael Ginnitti of Spotrac released his Potential Next-Man-Up NFL Contract Candidates. He listed Jaxon Smith-Njigba and Puka Nacua as potential receivers who could surpass Chase’s $40.25 million annual average at the position.

Both Smith-Njigba and Nacua are on their rookie deals. However, their situations are much different, contractually speaking.

Financial times are rough for Rams WR Puka Nacua in LA

The Rams took Nacua in the fifth round of the 2023 NFL draft. As a result of being taken so late in the draft, and despite being one of the best receivers in the NFL, he can’t afford to buy a house and must rent in California.

With the numbers Nacua has put up throughout his career, and last year, he is deserving of a contract that will allow him to buy a house in California. Nacua recorded 129 receptions, 1,715 yards, and 10. His 129 catches led the league last year, as did his 107.2 yards per game.

We have a strong suspicion that Nacua’s financial constraints will not last much longer, as projections have him signing a new contract this offseason with an annual value of $38.5 million, per Spotrac. 

Nacua will most likely be the first to break Chase’s watershed mark, with Smith-Njigba soon to follow.

That is, of course, if the Rams decide not to play hardball and force Nacua to play out this last year of his deal with a possible franchise tag looming over that. Hopefully, that will not be the case.

Jaxon Smith-Njigba’s timing may determine next record deal

Whereas Nacua led the league in receptions and touchdowns, Smith-Njigba led the NFL in receiving yards last season with 1,793. He also had 119 catches and 10 touchdowns in the 2025 campaign.

Unlike Nacua, Smith-Njigba is in a better financial situation after being drafted in the first round, 20th overall, by the Seattle Seahawks in 2023. 

And that is not us counting another man's pockets. That is just stating the fact that a first-round receiver's paycheck after taxes in Washington state does not hit the same as a fifth-round receiver's paycheck in Los Angeles, California.

On the other hand, for the Seahawks star, being selected in the first round could put him at a slight disadvantage, given that Seattle has his rights for next season, a fifth-year option in 2027, and a possible franchise tag in 2028. All of which will be well below his market value.

Smith-Njigba could wait a year and break Seattle's banking account over his knee the same way Chase did in Cincinnati. Chase was able to get the highest non-quarterback contract in the NFL at that point. 

If Smith-Njigba signs a new deal this offseason, that will not happen. However, if he turns out another season like the one he had in 2025, he would be making a great argument to be the highest-paid non-quarterback heading into the 2026 offseason.

Or, Smith-Njigba could take the osprey in hand and become the highest-paid receiver in the NFL this offseason, not worrying about what's going to happen in a year.

That worked out for Ja'Marr Chase, so perhaps it could work for Smith-Njigba as well. That is, if his team offers him a record-breaking contract. 

Hopefully for Smith-Njigba, a standoff will not be necessary.

Market may change, but Ja'Marr Chase's dominance hasn't

Obviously, as Bengals fans, we still believe that Chase is the best receiver in the NFL. And, that's not just our fandom speaking it into existence.

Chase was the Triple Crown winner in 2024, leading the league in receptions (127), yards (1,708), and touchdowns (17). Last year, he led the NFL in receiving yards.

Chase recorded 125 catches, 1412 yards, and eight touchdowns in 2025. He was third, fourth, and 11th in those categories last season, respectively. And lest you forget, he was without Joe Burrow for half the season, plus five games without even Joe Flacco, that featured Jake Browning and Brett Rypien. 

Chase’s individual statistics mean little if the team is not making the playoffs and competing for championships. However, he is still the best wide receiver in the NFL in our eyes.

But as football fans, we all know that being the best does not necessarily mean being paid as the best. See Dak Prescott having a larger salary than Joe Burrow. The market is set until another player comes along and resets it.

So hopefully, JSN and Nacua will push the wide receiver market forward, just for it to be taken over again by Chase in his next contract.

Hopefully, Chase will have not only the statistics but also a championship ring to help justify resetting the market for a second time.