Falcons’ Drake London gets contract update, draws comparison to Bengals’ $161 million record deal

The Atlanta Falcons could field one of the NFL’s most dynamic offenses in 2025. With rookie quarterback Michael Penix Jr. aiming to become the franchise cornerstone, the supporting cast around him is loaded with complementary talent.

One of the key pieces in that mix is WR1 Drake London, who’s entering the final year of his rookie deal. The Falcons have already exercised his fifth-year option, setting him up to earn $16.8 million next season — but it’s clear London will be eyeing a long-term extension soon.

The good news for Atlanta? London has been a full participant in OTAs, continuing to build on the strong chemistry he established with Penix late last season. So far, there’s been no indication of a potential holdout.

Make no mistake — London is coming off the best season of his career. In 2024, he posted career highs with 100 receptions, 1,271 yards, and nine touchdowns.

According to former agent and current CBS Sports analyst Joel Corry, the Falcons may be content waiting to negotiate, staying consistent with their history of extending first-rounders after their contract year.

“It may make sense for the Falcons to revisit this approach in light of the rapport London quickly established with 2024’s eighth overall pick Michael Penix Jr., who started the final three games at quarterback last season,” Corry said. “In Penix’s starts, London caught 22 balls for 352 yards with two touchdowns.”

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Corry added that if London sustained that level of production across a full 17-game slate, it would mirror the output of Falcons legend Julio Jones — and push London into the top tier of the wide receiver market.

“The Falcons would be looking at signing London to a deal in 2026 that would likely be closer to [Ja’Marr] Chase at the top of the wide receiver market than the four-year, $120 million extension averaging $30 million per year with $76 million of guarantees Brandon Aiyuk received from the 49ers last September.”

Chase, the Bengals’ All-Pro wideout, signed a massive four-year, $161 million extension this offseason, averaging $40.25 million per year with $112 million guaranteed, per Spotrac — the highest annual average for any receiver. Aiyuk currently ranks seventh.

London’s eventual payday won’t be the only deal Atlanta has to consider. Tight end Kyle Pitts (unless they trade him) and running back Bijan Robinson will soon be eligible for extensions as well — meaning the Falcons’ financial balancing act is just beginning.