The Green Bay Packers dropped some big news ahead of the start of the second day of the 2026 NFL Draft as ESPN’s Adam Schefter announced that the team has agreed to a contract extension with wide receiver Jayden Reed. Per Schefter, Reed will sign a three-year contract extension “worth $50.25 million in new money, including $20 million guaranteed” via Reed’s agents Drew Rosenhaus and Ian Grutman, keeping the playmaker in Green Bay through the 2029 season.
The deal locks in the Packers with one of their top receivers ahead of the upcoming season, but it’s not the only contract that needs to be reached. Fellow receiver Christian Watson is also looking for a new deal, and while he may raise his eyebrows at his teammate’s new deal, it could be the reason he winds up staying in Green Bay as he enters a contract year.
Packers Can Turn Attention to Christian Watson After Extending Reed
Reed’s contract looks expensive to the untrained eye. According to Spotrac, Reed had a market value projection of $14.5 million per season but ultimately agreed to a slightly higher amount at $16.75 million per season. Reed also had modest production during his first three years with the Packers, catching 138 passes for 1,857 yards and 15 touchdowns, including Reed's 2025 season, which was derailed by a broken collarbone and foot injury.
While that looks like a slight overpay, it also may be a discount compared to the wide receiver market this offseason. Alec Pierce signed a deal with the Indianapolis Colts that will pay the receiver $28.5 per year after breaking through for his first 1,000-yard season with the team in 2025. Wan’Dale Robinson got $17.5 million from the Tennessee Titans after also clearing the 1,000-yard mark with the New York Giants last season.
If Reed doesn’t get hurt, he could be in a similar situation, potentially pushing for the $17 million per year that Romeo Doubs got from the New England Patriots in free agency. Instead, he took a little less, freeing some money to reach a deal with Watson.
Watson missed half of last season due to a torn ACL, but agreed to a one-year, $11 million contract extension while rehabbing the injury, which proved to be a bargain by the end of the season. Entering his fifth year, Watson could be approaching his first 1,000-yard campaign if he stays healthy, and that could put him somewhere close to the money Pierce received, or more, if he puts everything together without reaching a deal before next year.
With Reed’s contract already wrapped up, Watson is sure to be next in line. With a projected market value of $19.2 million, whatever figure his deal ultimately reaches won’t be cheap. But the Packers may have some unexpected money after Reed’s deal, and it could be enough to get Watson to sign on the dotted line before next season begins.
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