The Philadelphia Eagles and wideout DeVonta Smith agreed to a three-year contract extension on Monday. NFL Network's Ian Rapoport reported the deal is worth $75 million.

According to OverTheCap.com, Philadelphia had $30.5 million in cap space prior to the deal.

Smith, 25, registered 81 catches for 1,066 yards and seven touchdowns in 16 games this past season. It was his second straight season with at least 1,000 receiving yards and seven scores and his third straight season with at least 900 receiving yards.

Still, both his receptions and yardage were down from the 2022 campaign, when he set career highs in both marks (95 catches, 1,196 yards). That likely corresponded with both playing one fewer game and seeing 24 fewer targets.

The Eagles, meanwhile, went from a 10-1 start to the season to losing five of their final six games. While the defense's inability to stop opposing passing attacks was the main cause of those issues, the offense grew stale in that time, and the Eagles struggled to find Smith and A.J. Brown deep down the field for the chunk plays that had been a staple of their attack.

It's hard to say what caused that offensive breakdown. The Eagles struggled to deal with opposing blitz schemes, which didn't allow those routes to develop. They also might have had issues with offensive coordinator Brian Johnson's play-calling and quarterback Jalen Hurts either regressing or dealing with injuries that impacted his play.

But Smith has been a consistent performer for the Eagles since he was drafted, giving them one of the most dynamic pairings at wide receiver in the NFL. It was a no-brainer that the team would ensure he remained with them for the long term, and Monday's deal will do just that.