Terry McLaurin is getting a new deal with the Washington Commanders, and it is a good one.

According to NFL insider Adam Schefter, McLaurin is signing a 3-year contract extension with Washington worth up to $71 million. The deal catapults McLaurin into the top 5 highest-paid receivers in the NFL.

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In addition to the overall value, Schefter reports the deal includes a $28 million signing bonus, the largest ever for a receiver. 76.4% of the contract money is also fully guaranteed.

The deal will keep McLaurin with the Commanders through the 2025 season.

Despite playing with a number of QBs his first 3 years in the league, McLaurin has turned into a go-to receiver and elite playmaker for Washington. He has back-to-back 1,000-yard seasons, over 3,000 yards receiving for his career and 16 touchdowns entering the 2022 season.