Hockenson's deal will reportedly be for four years and $68.5 million, with $42.5 million guaranteed, according to ESPN's Adam Schefter. That $17.125 average annual salary is highest in NFL history for a tight end and tops Darren Waller's $17 million APY, according to Over The Cap. Hockenson's guaranteed money would also be the highest in the NFL for the position.
Here's another breakdown of the contract, via NFL Network's Tom Pelissero:
Details on #Vikings TE T.J. Hockenson’s extension:
Base value: $66M over 4 new years
Cash flow: $32M over 2 years, $48M over 3
Full guarantee: $29M at signing (including ~$9M left on rookie deal)
Total guarantee: $42.5M
Max: $68.5M with incentives
Now signed through 2027
— Tom Pelissero (@TomPelissero) August 31, 2023
Hockenson, 26, had a career year in 2022 with 86 receptions for 914 yards and six touchdowns. He spent the first seven games of the season with the Detroit Lions before he landed with Vikings in a midseason trade. Hockenson caught 60 balls for 519 yards and three touchdowns in 10 games for Minnesota.
The former No. 8 overall pick in 2019 has 246 receptions for 2,587 yards and 18 touchdowns in 57 career games. Those figures are fifth, sixth and seventh among tight ends over the past four seasons, respectively. Hockenson made his second Pro Bowl in 2022 as he previously made it in 2020.
Hockenson is the first big contract domino to fall in the era of general manager Kwesi Adofo-Mensah and head coach Kevin O'Connell for the Vikings. The team previously moved on from running back Dalvin Cook and drafted receiver Jordan Addison with No. 23 pick in this year's draft. The bigger contract on the horizon, though, is that of 2022 Offensive Player of the Year Justin Jefferson, who could command the biggest salary in NFL history for a wide receiver after he set an NFL record for most receiving yards in a player's first three seasons with 4,825.