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According to NFL Network's Ian Rapoport, the team agreed with the receiver to a four-year extension worth $39 million, with $14.2 million guaranteed. The team later officially announced the signing.
Previous reporting had indicated Nelson was looking for at least $10 million a year; he got close to that number. Rapoport reported the new deal averages $9.76 million and Nelson will get an $11.5 million signing bonus.
As NFL.com's Kevin Patra suggests,the 29-year-old pass-catcher is often overlooked among elite receivers.
"He has some of the best hands in the NFL," Patra wrote, "can run all the routes and play on the outside or in the slot."
But fantasy owners realize it's Nelson's rapport with Rodgers that makes him a lethal threat.
Acccording to ProFootallFocus.com, Rodgers' passer rating on throws intended for Nelson have been 150.2, 130.3 and 111.6 over the past three seasons, respectively.
The question now is whether you feel Nelson (with a current ADP of WR10) is a slightly better value than Randall Cobb, who is going one spot ahead of his teammate in PPR formats.
While the Cobb over Nelson debate is rather close with a point per reception on the line, picking Nelson well ahead of Cobb in standard formats is certainly reasonable.