Mike Williams won't be headed to free agency. Instead, the veteran wideout is getting paid to remain with the Los Angeles Chargers.
The Chargers are signing Williams to a three-year, $60 million contract, NFL Network Insider Ian Rapoport reported Tuesday, per a source. The deal includes $40 million guaranteed upon signing, Rapoport adds.
The team has since announced the news.
NFL Network's Tom Pelissero reports Williams' new deal includes a $21 million signing bonus, $40 million guaranteed over the first two years, and a $3 million roster bonus on the third day of the 2024 league year which triggers the final year.
Williams reaches a new deal with the Bolts just ahead of Tuesday's franchise tag deadline and stays with a blossoming offense headed by star quarterback Justin Herbert.
Selected by the Chargers with the No. 7 overall pick in 2017, Williams is coming off one of his best seasons statistically. The Chargers' deep threat produced career-highs with 76 receptions and 1,146 receiving yards while adding nine touchdowns. Williams led the team in TDs, receiving yards and yards per reception for the Bolts in 2021.
According to Next Gen Stats, Williams has the sixth-most deep receiving yards (1,270) in the NFL since 2018 (deep reception equaling 20-plus air yards). Only Tyler Lockett, Tyreek Hill, Mike Evans, Stefon Diggs and Davante Adams have had more.
Retaining one of the best deep threats in the NFL should help maintain one of the most explosive offenses in the NFL. In 2021, the Chargers ranked in the top five in total offense (390.2 yards per game), passing offense (282.4 YPG) and points scored per game (27.9).
Williams was the No. 6 player on NFL.com's Gregg Rosenthal's top 101 free agents list.