Jason OwensStaff writerWed, April 29, 2026 at 3:22 AM UTC·4 min readThe next notable date in the NFL offseason is May 1 — the deadline for teams to exercise fifth-year contract options for the draft class of 2023.

First-round draft picks sign four-year deals in the NFL, and teams have a fifth-year option on each for the 2027 season. These fifth-year options come with significant pay jumps designated by the collectively bargained rookie wage scale. The value of the options are based on a player’s position, performance and availability through the first three seasons of his contract.

For example, quarterback Bryce Young, the No. 1 pick of the 2023 draft, signed a four-year rookie deal with the Carolina Panthers valued at $38 million. Per Spotrac, the projected fifth-year option on his deal is valued at $25.9 million, more than double that of his $12.1 million salary from Year 4 of his contract.

Teams that exercise options maintain the ability to negotiate a long-term extension with players, and some already have. How teams handle the fifth-year option is generally a good indicator of a player’s success through his first three seasons.

Here’s how teams are handling fifth-year options for each of the 31 2023 first-round picks. There was no 32nd first-round pick in the 2023 draft. The Dolphins forfeited their pick due to tampering with Tom Brady and Sean Payton.

$25.9 million option expected to be exercised: General manager Dan Morgan said in January and again before the draft last week that the Panthers will pick up Young’s option before Friday’s deadline.

$21.5 million option exercised: The Texans also signed Will Anderson to a three-year, $150 million extension through the 2030 season that makes him the highest-paid non-quarterback in the NFL based on annual salary.

$22.5 million option not exercised. The Colts are all-in on Daniel Jones, and Richardson is on the trade block.

$14.5 million option reportedly declined by Saints after trade

$19.1 million option expected to be declined: Jones underwent spinal fusion surgery in December, and his long-term prognosis is unclear. The Steelers, meanwhile, spent first- and third-round picks in last week’s draft on offensive tackle Max Iheanachor and guard Gennings Dunker.

$14.5 million option expected to be exercised, per GM Darren Mougey

$21.3 milllion option reportedly declined: Per reports, the price tag was considered too high by the Lions to exercise the option for an off-ball linebacker despite Campbell’s selection as an All-Pro last season.

$23.8 million option exercised: Smith-Njigba also signed a four-year, $168.6 million extension through the 2031 season, making him the highest-paid wide receiver in the NFL based on annual salary.