The first major wide receiver domino of the free agent period has fallen. Jakobi Meyers is set to sign with the Raiders on a three-year, $33MM contract (Twitter link via Ian Rapoport of NFL Network). 
The pact includes $21MM guaranteed, and will give Vegas another notable new piece on offense. The Raiders agreed to terms yesterday on a deal with quarterback Jimmy Garoppolo. He, just like Meyers, will be reunited with head coach Josh McDaniels after working alongside the latter in New England when he served as the Patriots’ offensive coordinator.
Las Vegas’ Meyers accord contains $16MM fully guaranteed, Ben Volin of the Boston Globe tweets, with the remaining $5MM being an injury guarantee. Meyers has the final $5.5MM in guarantees coming to him in 2024, via a roster bonus. Like Garoppolo, the team could escape this contract — with a bit of dead money — next year. Beyond the fully guaranteed roster bonus, $5MM shifts from an injury guarantee to a full guarantee on Day 3 of the 2024 league year, Tom Pelissero of NFL.com tweets.
Meyers, 26, enjoyed a noteworthy career ascension across his four seasons spent in New England. The former UDFA became a starter by his second season, and has been one of the few constants in the Patriots’ underwhelming passing attack in recent years. Meyers comfortably led the team in receiving yards (804) in 2022, and was expected to headline a less-than stellar class of free agent wideouts this offseason.
The $11MM AAV of this pact falls short of what some reports indicated he could receive on the open market. Meyers has put up consistent totals in a number of categories over the past three seasons, but his yards-per-catch average sits at 11.7 for his career. That figure pegs him as a high-end complimentary wideout in an ideal role, something which will be possible with the Raiders.
Vegas already has Davante Adams atop their WR depth chart, and highly-regarded slot man Hunter Renfrow on the books after he signed a new deal last offseason. The Raiders also have Pro Bowl tight end Darren Waller, so Meyers represents the latest addition to a multi-faceted pass-catching corps. He will have the opportunity to continue his steady production with a familiar scheme.
For the Patriots, this news marks the second straight day of a pass-catcher departing. New England traded away tight end Jonnu Smith yesterday, and will now have a hole to fill at wideout with Meyers defecting. That position was already a weak one even with Meyers and fellow veteran Nelson Agholor, who is reportedly expected to leave in free agency as well. New England will have considerable work to do to upgrade their passing efficiency, but the Raiders will have another impact playmaker in place when they look to rebound in 2023 with a new-look offense.
Not a bad contract for a good receiver in a weak free agent group, but the fit seems odd. Do they think he can play just as effectively on the outside a lot more or is Renfrow on the way out? Or it’s the Raiders, so I guess there’s the third option of did they just not think this through?
Everyone balked at paying Jakobi 15-20m per as they should have. Same people should be upset they didn’t match 3/33m
Agreed. As a Pats fan, I think this is a great signing for LV. I wish the Pats would’ve matched it (tho, in fairness, we can’t be sure that that didn’t).
Yes. With a 68% catch percentage, Meyer should have been a keeper. Still, there’s always talented receivers to be had in the draft. Not a position where it’s a good idea to overpay, except perhaps for a Davante Adams level talent.
We need defense and OL, so we sign a WR- the one position we’re fairly set at. Raiders be Raidering again
Its time to realize that in BB we can’t trust anymore at that price there’s NO reason they didn’t resign him
Current Raiders management seems to prioritize signing former Patriots. Meyers is a useful player but does not fill one of their many urgent needs on defense and the offensive line.
Hey if you can’t beat em….