The Falcons have signed receiver Drake London to a long-term deal. The new-money APY comes in at $35.27 million, putting him ahead of Justin Jefferson for third on the list of highest-paid receivers.
The details have arrived. Here are the full details of the Drake London deal, per a source with knowledge of the terms.
1. Signing bonus: $33.656 million.
2. 2026 base salary: $1.215 million, fully guaranteed.
3. 2027 option bonus: $16.49 million, fully guaranteed.
4. 2027 offseason workout bonus: $250,000, fully guaranteed (but must be earned).
5. 2027 base salary: $1.26 million, fully guaranteed.
6. 2028 option bonus: $34.445 million, guaranteed for injury at signing and fully guaranteed as of the third day of the 2027 league year.
7. 2028 offseason workout bonus: $250,000, guaranteed for injury at signing and fully guaranteed as of the third day of the 2027 league year (but must be earned).
8. 2028 base salary: $1.305 million, guaranteed for injury at signing and fully guaranteed as of the third day of the 2027 league year.
9. 2029 option bonus: $29.615 million, guaranteed for injury at signing and fully guaranteed as of the third day of the 2028 league year.
10. 2029 offseason workout bonus: $250,000.
11. 2029 base salary: $2.635 million.
12. 2029 per-game roster bonus: $1 million total ($58,823 per game).
13. 2030 90-man roster bonus: $2 million, due on the third day of the 2030 league year.
14. 2030 option bonus: $23.1 million.
15. 2030 offseason workout bonus: $250,000.
16. 2030 base salary: $9.15 million.
17. 2030 per-game roster bonus: $1 million total ($58,823 per game).
The deal includes two separate escalators for 2029 and 2030.
In 2029, London’s base salary will increase by $2.1 million if he has 225 catches or 3,000 receiving yards or 24 touchdowns from 2026 through 2028.
The 2030 base salary will increase by $900,000 with 300 catches or 4,000 receiving yards or 32 touchdowns from 2026 through 2029.
In 2029, the base salary increases by $1 million for each prior season from 2026 through 2028 of 110 catches or 1,200 receiving yards or 10 touchdowns or first-team All-Pro or second-team All-Pro or 80-percent playing time plus a Super Bowl win — with a maximum increase of $3 million.
In 2030, the base salary increases by $1 million for each prior season from 2026 through 2029 of 110 catches or 1,200 receiving yards or 10 touchdowns or first-team All-Pro or second-team All-Pro or 80-percent playing time plus a Super Bowl win — with a maximum increase of $3 million.
London had been under contract for 2026, at a fifth-year option of $16.82 million. He now has a five-year deal with a total base value of $157.88 million. The four new years, at $141.06 million, have a new-money average of $35.26 million.
With escalators, London can make another $9 million, pushing the new money to $150.06 million.
The first two years are fully guaranteed at signing, and the third year becomes fully guaranteed in year two, with another $11 million in full guarantees for year four, which vest in year three.
Given that London, in four seasons, has one 1,000-yard season and no Pro Bowls, it’s a very good deal for a player on whom the new regime is clearly counting to do big things.
