Don’t Get Caught Up in the Big Numbers for T.J. Hockenson’s New Contract
This week, the Vikings agreed to terms with TE T.J. Hockenson on a massive four-year contract extension worth a total of $66 million.
The contract gives Hockenson $40.1 million in practical guaranteed money, the most for a tight end in NFL history. His average annual value of $16.5 million comes in narrowly behind Darren Waller’s total at $17 million.
While the initial big numbers in Hockenson’s contract have caused some to be wary of the deal, we shouldn’t allow ourselves to get caught up in these totals.
Breaking Down the Big Numbers for T.J. Hockenson’s Contract
First and foremost, this new deal actually saves the Vikings money during the 2023 season. His cap hit this year drops from nearly $10 million this year down to just under $5 million, per Over the Cap.
This is important for a couple of reasons. It not only gives the Vikings a touch extra in wiggle room to add players throughout the season (perhaps another trade deadline deal is in order for Kwesi Adofo-Mensah?), but the Vikings can roll over any money not used in 2023 to 2024.
With Kirk Cousins and Danielle Hunter needing new contracts next year (Justin Jefferson’s fifth-year option is already on the books), any added money helps Minnesota keep both players around if they want to do so.
In the following 2024 and 2025 seasons as well, Hockenson will have relatively lower cap numbers for the Vikings. His $14.1 million hit in 2024 ranks 8th among tight ends while his 2025 cap hit of $15.1 million ranks 9th.
Folks, we’re talking about the same Hockenson who caught 60 passes for 519 yards and 3 TDs in just 10 games with the Vikings last season. Spread out over 17 games, this is a pace of 102 catches for 882 yards. During the 2022 season, Travis Kelce was the only tight end to surpass 100 receptions, catching 110 passes.
Admittedly, the cap hits balloon to large numbers in 2026 and 2027. Even still, 2027 is set to be the only year where Hockenson’s cap hit surpasses $20 million.
If Hockenson’s production were to drop off by that point, the Vikings can save $18 million of that $21.6 million cap hit. However, the thing we have to keep in mind is that Hockenson will only be 30 years old by that point. While he may be entering the twilight years of his prime by then, it would be a bit shocking for him to fall off a cliff before this contract ends.
Meanwhile, other players who have been given massive tight end contracts are much older. Kelce turns 34 years old in a month, Waller turns 31 in a couple days, and even George Kittle is about to turn 30. Hockenson’s value for the Vikings comes not only in his production, but also his age. The tight end just turned 26 in June and should have plenty of prime years in front of him.
We also have to keep in mind that the Vikings still have nearly $50 million in cap space next spring. This cap space exists despite the Hockenson extension, Jefferson’s fifth-year option of nearly $20 million, and Cousins $28.5 million in dead money already being baked into the salary cap.
Overall, the fact that Hockenson “reset” the TE market could cause some fans to be wary of paying a tight end exuberant amounts of money, a breakdown of the deal reveals a reasonably team-friendly contract for a talented young star. This is a great deal for the Vikings.
Josh Frey is a Class of 2020 graduate of The College of Idaho and managing editor of PurplePTSD.com. When he’s not writing about the NFL, Josh enjoys running, gaming, or rooting for the Milwaukee Brewers and Bucks. Check out his Twitter account: @Freyed_Chicken.