After a breakout season in 2023, Houston Texans wide receiver Nico Collins signed a lucrative extension with the team that drafted him in the third round (No. 89 overall) of the 2021 NFL Draft. Let’s examine Collins’ contract, how it stacks up to other elite receivers, and how he has fared since inking his new deal.
Breaking Down Nico Collins’ Extension
On May 28, 2024, Collins and the Texans agreed to a three-year extension worth $72.75 million that will keep him in Houston through the 2027 season.
The deal included $52.1 million guaranteed, and it has a maximum value of $75 million.
This is Collins’ second contract after his rookie deal, and he earned the payday by catching 80 passes for 1,297 yards and eight touchdowns last season.
Nico Collins in 2023:
80 receptions, 1,297 yards, 8 receiving TDs (all career-highs)
A well-deserved extension to stay in Houston @lbg_nico7 🤝 pic.twitter.com/UbLowvy8zZ
— NFL (@NFL) May 28, 2024
This season, Collins is still in the final year of his rookie contract, so his base salary is $1.6 million, and his cap hit is $6.6 million. Next year, his base salary will be $13.5 million, while his cap hit will be $18.3 million.
Including this season, Collins has earned $22,747,390 from his NFL contracts.
The average annual value of Collins’ new deal is $24,250,000. While that sounds like a lot, it makes him just the 12th-highest-paid wide receiver in the NFL.
For comparison, Minnesota Vikings WR Justin Jefferson earns $35 million per season, Dallas Cowboys WR CeeDee Lamb makes $34 million annually, and San Francisco 49ers WR Brandon Aiyuk receives $30 million each year. They all signed their deals within three months of Collins.
The Texans have to feel good about Collins’ contract, especially considering how dominant the 25-year-old has looked so far this season.
How Has Collins Performed Since Getting Paid?
Collins has continued to look like one of the NFL’s best wide receivers since signing his new deal. Through the first five games of the 2024 NFL season, he was arguably the most productive receiver in the league.
Collins averaged 113.4 receiving yards per game with three touchdowns, and he did that while leaving the fifth game in the second quarter. Through four games, he was averaging 122.3 yards per contest.
Unfortunately, Collins suffered a hamstring injury on a 67-yard touchdown reception against the Buffalo Bills in Week 5. He landed on injured reserve, which requires him to miss four games, but he’s reportedly progressing and is expected back in Week 10 when the Texans face the Detroit Lions.
Collins’ recent absence has shown his importance to the Texans’ offense.
Throughout the first five weeks of the season, C.J. Stroud was averaging 277 passing yards per game. In the three games since Collins got hurt, Stroud’s average dipped to 187.6 passing yards per game.
In the last four games that Collins started, over 75% of Houston’s yards came through the air. In the three games he’s missed, just 53.7% of their yards have come via passes.
Stroud has just 11 deep pass attempts over his last two games. For comparison, in the last two games Collins started, the Houston QB had 11 deep completions.
Collins has solidified himself as one of the best wide receivers in the NFL, and he is still just 25 years old, so he still has untapped potential as well.
After his fantastic 2023 season, he earned his recent payday, but it’s possible he could outperform that contract if he continues on his current trajectory.