The New England Patriots made a major free-agent move on Tuesday, March 25, signing veteran wide receiver Stefon Diggs to a three-year, $69 million deal.
Only $26 million is guaranteed of that total. Still, the average annual value of $23 million has people talking.
Diggs will turn 32 later this season, and the signing has sparked plenty of reactions — including from Fox Sports analysts Colin Cowherd and Nick Wright, who broke it down on “The Colin Cowherd Podcast.”
Cowherd and Wright Break Down the Stefon Diggs Deal
“Stefon Diggs signed with the Patriots,” Cowherd said.
“Oh my god! Did you see how much money Diggs got?” Wright responded.
“$69 million. $26 million guaranteed. So I think Vrabel looks at it and thinks, ‘Listen, I got Drake Maye, I got a good owner, I got a tough guy roster, I’m not gonna end in Tennessee. So I get this overpay,'” Cowherd added.
“Diggs last year was fine. He was not great. He was fine. And now he is going to, at the start of next season, ten months, not even a full year removed from the first major injury of his career; it’s an ACL,” Wright said. “If you would have asked me, ‘Diggs is gonna sign, what is his deal going to be?’ I would be like, ‘I don’t know, man, 10% less than Davante Adams’ deal?’ $26 million guaranteed is a shitload of money for Stefon Diggs, who wears out his welcome, and I don’t know if he is good for Drake Maye.”
“OH MY GOD! Did you see how much money Stefon Diggs got?”@colincowherd & @getnickwright react to Stefon Diggs signing with Patriots pic.twitter.com/CawNs1uQUR
— The Volume (@TheVolumeSports) March 26, 2025
Looking Back at Diggs’ 2024 Season
As Wright noted, Diggs tore his ACL during the 2024 season — his first and only year with the Houston Texans. He had joined the team via a trade with the Buffalo Bills. In exchange, the Bills received a 2025 second- and fifth-round pick, while the Texans got Diggs and a 2024 sixth-rounder.
In eight games, Diggs saw 64 targets and caught 47 passes for 496 yards and three touchdowns. That averages out to about eight targets, six receptions, and 62 yards per game, with C.J. Stroud as his quarterback.
Projecting Diggs With New England
Here’s what PFSN had to say about Diggs heading to New England, where they ranked him as the No. 41 overall free agent out of 121:
“Several of the Patriots’ additions in free agency have struck a similar tone. In a vacuum, players like Milton Williams might have been overpaying, but a team that began the offseason with nine figures of cap room and major needs everywhere besides quarterback can afford to pay a premium for talent.
“Diggs falls into a similar bucket. It will be interesting to see his contract structure, as $23 million per year for three years would be a shocking commitment for a player who tore his ACL in October and turns 32 during the season. If Diggs earned multiple years of true guaranteed money, this would be a stunning deal even for a team with New England’s spending power.
“More likely, this would be a deal with one true year of guaranteed money and de facto team options in the second and third years. Diggs’ arrival fills a major need for the Patriots and gives Drake Maye at least one reliable target, which is one more than he had in 2024.”