Financial details revealed for Evan Engram's new contract with Jacksonville Jaguars

The Jacksonville Jaguars struck a deal with Evan Engram Sunday ahead of Monday’s 4 p.m. ET deadline for a long-term extension after the team placed the franchise tag on the tight end in June.

Full terms of the three-year, $41.25 million deal with $24 million guaranteed were revealed Monday, per Mike Florio of Pro Football Talk. Engram received a $12 million signing bonus and will have a 2023 base salary of $2 million, fully guaranteed. He will have a 2024 option bonus of $7.5 million, fully guaranteed while his base salary will remain $2 million guaranteed.

That base salary jumps to $14.75 million in 2025, $1.5 million of which is fully guaranteed. The deal also includes $250,000 per year in available incentives. Engram was due to make $11.345 million fully guaranteed under the franchise tag. Additionally, he would have made $13.614 million under the franchise tag in 2024, according to Florio.

Engram, 28, is coming off a career year in his first season with the Jaguars. He hauled in 73 receptions for 766 yards and four touchdowns, becoming one of Trevor Lawrence’s go-to targets. A first-round pick in the 2017 NFL Draft out of Ole Miss, Engram spent the first five seasons of his career with the New York Giants. After a stellar rookie campaign in New York, Engram quickly fell out of favor in the Giants’ offense and missed significant time in 2018 and ’19 with injuries.

Evan Engram having career resurgence in Jacksonville

He signed a one-year, $9 million deal with the Jaguars last offseason. He surpassed Kyle Brady (2000) for the most catches and receiving yards by a tight end in a single season in Jaguars franchise history, per ESPN. Engram was listed as the eighth-best tight end in the NFL during a recent poll conducted by ESPN involving executives, players, and coaches.

Back in May, Engram described his first season in Jacksonville as the “best time of my life.”

“I wanted to be great where I got drafted… but that just wasn’t for me. At the end of the day, I needed Jacksonville,” Engram said, via NFL.com. “I needed the coaches I had there, I needed the relationships I’ve built with the guys there. I had the best time of my life the past season.

“It was the first time in my career where I didn’t want to leave the building. It was a Wednesday, Thursday, Friday. I’m in the building just staying because I want to work, I want to watch more film.”