Ja'Marr Chase's record-setting extension confirms suspicion about Vikings WR Justin Jefferson and it's paying dividends

We have seen a wild National Football League free agency so far. There have been over $4 billion in contracts given out across the league, including former Minnesota Vikings quarterback Sam Darnold signing for $33.5 million average annual value with the Seattle Seahawks.

Teams spend a lot of money in free agency to fortify their rosters on players from other teams. However, the biggest contracts doled out during free agency often come from extensions given to players. It's easier to allocate that kind of money to players already in your building than it is to anyone else.

Ja'Marr Chase's extension shows Justin Jefferson is a bargain

Sunday night finally gave Cincinnati Bengals fans what they've been waiting for. They didn't just extend one of their star wide receivers, they extended both of them. Ja'Marr Chase and Tee Higgins both agreed to massive contract extensions, giving quarterback Joe Burrow his weapons for the next four plus years.

That's a hefty contract for Chase and one that we knew was coming once the Cleveland Browns extended edge rusher Myles Garrett on a four-year, $160 million extension. The Bengals made it known at the NFL Scouting Combine they were going to pay him and they lived up to it.

It's a hefty price for both Chase and Higgins and, paired with Burrow's hefty salary over $50 million per season, how the Bengals maneuver the salary cap will be intriguing to watch over the next few years.

The contract also tells us something about the Vikings: wide receiver Justin Jefferson's contract is now a bargain.

Last June, Jefferson signed a historic four-year, $140 million contract that has been passed multiple times since. It happens with the ever-evolving world of the salary cap. Just this offseason, it went up over $20 million, making his contract from a percentage standpoint much easier on the salary cap.

That brings us to the question at hand. Chase is the highest paid wide receiver in the National Football League and in the history of the league. Is he the best receiver? That question is worthy of discussion. For my money, Jefferson is the best receiver in the league, but an argument for Chase can be made and it would be a valid one.

Since Chase entered the league, they are very close in numbers. Jefferson leads in receptions, yards, and yards per catch while Chase has much more receiving touchdowns. Jefferson does lead 3-2 in first-team All-Pro selections while also having an Offensive Player of the Year award.

However, Jefferson's insane consistency across the board in his career along with his insane list of NFL records -- including receiving yards per game (96.5) and most receiving yards in the first five seasons (7,432). When Jefferson signed his contract, there was even discussion about its potential value for the Vikings in the long term.

It didn't even take a full calendar year for Jefferson's deal to become a value for the Vikings, and it could end up being a huge factor in the Vikings' chase for a Super Bowl.

How much more will Jefferson's contract be a value over the next few years? Right now, it already is.