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DK Metcalf and the Seahawks have agreed to terms on a three-year, $72 million extension with $58.2 million in guarantees, according to multiple reports.

NFL Network's Mike Garafolo added the deal includes a $30 million signing bonus, the highest ever for a wide receiver.

Metcalf had been "holding in" at Seahawks training camp, reporting to camp but not participating in anticipation of a deal to keep him in Seattle a few more years. Now he's got it.

This all makes sense -- as long as the Seahawks don't see themselves in rebuild mode.

Metcalf is arguably the Seahawks' most important player, and head coach Pete Carroll had previously stressed the significance of the Seahawks getting a contract extension done for the fourth-year wideout. "It's really important to us," Carroll said of a potential extension for Metcalf. "Hopefully this will all work out. We don't plan on him going anywhere. We want him to be with us."

Consider today's deal a success then.

The Seahawks landed Metcalf with a second-round pick in the 2019 draft. The Ole Miss product quickly developed into a productive weapon in Seattle's offense. He's finished with at least 900 receiving yards in each of his three seasons. In 2021, Metcalf posted 75 receptions for 967 yards and a team-high 12 touchdowns. He also led the Seahawks with 129 targets, as he was quarterback Russell Wilson's favorite option on the outside.

But Seattle is a team in transition after trading Wilson to the Broncos, leaving them with Drew Lock and Geno Smith as candidates to be their starting QB.

The good news?

Metcalf still put up a WR1 season in 2021, even with Smith starting three games at QB and Wilson struggling at time.

In fact, Michael-Shawn Dugar of The Athletic contends that if Smith, who is currently working with the first team ahead of Lock early in training camp, wins the starting quarterback job, then it wouldn’t surprise him to see Metcalf’s 2022 numbers look similar to the stats he posted with Smith under center for three weeks in 2021.

During that stretch, Metcalf caught 14 of 18 targets for 197 yards and three touchdowns. If you extrapolate those numbers over a 17-game season -- which Dugar concedes isn’t a perfect way to go about this -- then his 2022 stats would look comparable to his career averages despite a dropoff in quarterback talent.

From a fantasy perspective, trusting the talent at the right price is the wise move. Metcalf's current ADP is WR21. He's going off in the fourth round.

That's not a bad price.