The New Orleans Saints and Michael Thomas have reached a deal to make him the highest-paid wide receiver in the NFL. With this deal, Thomas’ net worth just took a huge leap.
Here is a look at the deal and Thomas’ new net worth.
Michael Thomas’ Saints contract
The New Orleans Saints offered Michael Thomas a contract worth $100 million over five years with a guarantee of $61 million, via ESPN.
This locks Thomas up with the Saints through the 2024 NFL season.
This season is the final year of Michael Thomas’ rookie contract and he will make $1.148 million this season. Thomas originally held out of training camp because he wanted a new contract before this season began.
Michael Thomas had 321 receptions over his first three NFL seasons, the most of any player in history that early in a career. Odell Beckham Jr. had the original record with 288 in his first three seasons.
This is the first time the New Orleans Saints have ever paid a skill-position player more than $10 million a year, although Jimmy Graham reached that amount before they traded him.
BREAKING: The @Saints and Michael Thomas (@Cantguardmike) have agreed on a 5-year, $100 million extension ($61 million in guarantees) that makes him the highest-paid WR in NFL history. (via @RapSheet) pic.twitter.com/rg0PM80omJ
— NFL (@NFL) July 31, 2019
Michael Thomas net worth
This new contract bumps up Michael Thomas’ net worth big-time.
Before this season, Thomas had career earnings of $4.10 million over the first three seasons of his rookie contract. With his $1.148 million this season and the $20 million signing bonus for this new deal, he has career earnings of $25.25 million.
Starting in 2020, he will earn an average NFL salary of $20 million a season, driving his net worth to a level where he should never need to worry about money again.