At first glance, it appeared the New England Patriots had signed JuJu Smith-Schuster to an identical contract as new Las Vegas Raiders wide receiver Jakobi Meyers. That is not the case, however.

Meyers, who was signed away from New England in free agency, signed a three-year, $33 million deal with the Raiders while Smith-Schuster’s is actually a three-year contract worth $25.5M with incentives that reach $33 million.

Here’s the full breakdown of Smith-Schuster’s deal:

It’s a three-year contract worth $25.5 million with a $7.9 million signing bonus, $16M in total guarantees and up to $1M total in per-game roster bonuses each year.

Here are his base salaries and cap hits:

2023: $1.1M fully guaranteed ($4.73M cap hit)
2024: $7M fully guaranteed ($10.6M cap hit)
2025: $6.5M ($10.13M cap hit)

The deal includes $1.5 million in receiving yards incentives in 2023, up to $3 million in receiving yards incentives in 2024 and up to $3 million in receiving yards incentives in 2025.

Meyers signed for more money, but the Raiders have an out after 2023. His deal is a three-year contract worth $33 million with a $5.5 million signing bonus, $21 million in total guarantees, up to $255k in per game roster bonuses each year and $245k workout bonuses each year. Meyers is due a $5.5 million roster bonus on the fifth day of the 2024 league year that’s guaranteed for skill and injury but not cap at the time of signing.

Here are his base salaries and cap hits:

2023: $5M fully guaranteed ($7.3M cap hit)
2024: $5M guaranteed for injury at the time of signing, skill/cap on the third day of the 2024 league year ($12.8M cap hit)
2025: $10.5M (12.8M cap hit)

Smith-Schuster is locked in for two years at $16 million but has a lower APY and lower cap hits. Meyers is only locked in for one year at $11 million.

The Patriots felt the two receivers were close in talent level but that Smith-Schuster was better after the catch and as a playmaker. both players can line up outside or in the slot. Smith-Schuster has the 33rd-highest APY among wide receivers and is tied with Tampa Bay Buccaneers wideout Russell Gage. Meyers has the 28th-highest APY.

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