Here are details of Chargers WR Mike Williams’ contract extension

Contract details for Los Angeles Chargers WR Mike Williams’ extension and the salary-cap space the team currently has.

The Chargers and Mike Williams agreed to a contract extension to keep the big-bodied wide receiver in Los Angeles for the next three seasons.

Here is what we know about Williams’ new contract:

Williams’ contract is worth $60 million for three years, with $40 million guaranteed, including a $21 million signing bonus.

His signing bonus ($21 million), 2022 salary ($7 million), and 2023 salary ($12 million) make up the fully guaranteed money.

Los Angeles has a potential out in 2024 to save $20 million in cap space with a $7 million dead money charge.

Assuming no voids, his cap hit in 2022 will be worth $14 million, $19 million in 2023, and $27 million in 2024, according to Over The Cap.

After Williams’ new deal, L.A. currently has the fifth-most salary cap space in the NFL ($42.3 million).

One of the potential cap causality is tackle Bryan Bulaga, who if/when he is released, the Chargers would save an additional $10.8 million.

Analysis of Chargers signing WR Mike Williams to contract extension

The Chargers have the big-bodied wideout locked in.

The Chargers signed one of their key pieces on offense to a new deal, inking wide receiver Mike Williams to a three-year extension instead of franchise tagging him.

It is a three-year, $60 million contract, which includes $40 million guaranteed at signing, thus making him tied for the fourth-highest paid receiver with Cowboys’ Amari Cooper.

Also, Williams is now behind Keenan Allen, who signed a four-year extension in 2020 worth $20.25 million in average annual value.

Had Los Angeles placed the tag on him, it would’ve cost them $18.419 million. Now, the team can have a cap hit of much lower in 2022, likely in the range of $13-15 million.

Therefore, it gives them wiggle room to save some money and use it towards re-signing their own, potentially extending safety Derwin James and adding external free agents.

Heading into the season, offensive coordinator Joe Lombardi said this about Williams: “If I were a betting man, I’d bet on nice numbers coming from him on the stat sheet.”

This came after an up-and-down first four seasons, which was primarily a product of injuries that occurred throughout.

Nonetheless, Williams backed up Lombardi’s remarks.

After being relegated to a jump ball specialist, Williams made the most of his new role as the ‘X’ receiver in Lombardi’s system, with an expanded route tree to create more passing windows.

As a result, he produced career-highs with 76 receptions and 1,146 receiving yards, 15.1 yards per reception, while adding nine touchdowns.

Williams constantly came through in the clutch and made big plays along the way, leading the league in most game-tying or go-ahead touchdowns with six. Also, seven of his nine receiving touchdowns came in the fourth quarter.

One of those scores came in the season finale against the Raiders when he became the primary target late down the stretch and caught the touchdown pass as time expired to send the game into overtime.

That was the game that ultimately earned him the bag.

“So I’m thankful we drafted him, I’m thankful he’s here,” general manager Tom Telesco said at his end-of-season presser. But he’s a big part of this football team this year, and he has been in the past as well.”

Ultimately, locking up Williams is about knowing what he brings to the table in his new role, having his big-play and clutch ability and toughness on the field, and most importantly, keeping continuity between him and Justin Herbert.

As it stands, the Chargers have a solid core, with Williams, Keenan Allen, and Josh Palmer heading into 2022. However, the offense needs more speed, which I expect to be addressed in either free agency or the draft.

Twitter reacts to Chargers WR Mike Williams’ contract extension

What the general population thought following the announcement of Chargers WR Mike Williams’ contract extension.

The Chargers and wide receiver Mike Williams agreed to a three-year deal worth $60 million.

Here’s a compilation of social media posts regarding Williams’ contract extension announcement.

Report: Chargers, WR Mike Williams agree to contract extension

The Chargers are locking Mike Williams in for the next three years.

The Chargers are surpassing the franchise tag and locking wide receiver Mike Williams to a new contract extension.

According to NFL Media’s Ian Rapoport, the contract is for three years worth $60 million, with $40 million guaranteed at signing.

Had Los Angeles chosen to place the tag on Williams, it would have kept him around for one more season, which would have cost approximately $18.419 million in 2022.

Williams, the No. 7 overall pick in the 2017 NFL draft, made $15.68 million on the fifth-year option last season.

Under Joe Lombardi, Williams had a career year with 76 catches for 1,146 yards and nine touchdowns in 2021. Further, he had six game-tying or go-ahead touchdowns, the most in the NFL.