Training camp is right around the corner for the Jacksonville Jaguars, and tight end Evan Engram will enter it with a long-term deal. The veteran was initially set to play on the franchise tag valued at approximately $11.345 million, but according to his agent, Mike McCartney, a three-year deal was struck on Sunday.
In terms of the details, the deal is worth $42.5 million, with $25.5 million of it guaranteed. That would give him an average of roughly $14.16 million a year, which would rank fifth amongst tight end contracts in the league.
The Jags and Engram had until Monday, July 17 at 4 p.m. to agree on a multi-year deal. If they didn't, Engram would've had to play on the aforementioned franchise tag deal for $11.345 million guaranteed, which was good for just one year.
From the start of 2023, Jags general manager Trent Baalke and coach Doug Pederson made it clear they wanted Engram to remain a Jaguar long-term. However, they had to place the franchise tag on him before free agency began, as the two didn't get a multi-year deal done. Coming into the weekend, Jonathan Jones of CBS Sports reported that a potential deal was up in the air, but it appears both sides worked to push a deal through.
Engram signed with the Jags on a one-year deal worth $9 million last offseason. Engram was highly successful in Pederson's scheme and finished the season with 73 receptions for 766 yards and four touchdowns. He was also a big-time target for quarterback Trevor Lawrence during the Jags' five-game win streak, garnering 39 catches for 380 yards and two touchdowns, in the process.
According to Over the Cap, the Jaguars had roughly $15.5 million available in cap space when factoring in the one-year franchise tag. Once the figures of his new deal is revealed, they should be working with more heading into training camp.