'Tis the season for the wide receiver to get paid.

A day after the Houston Texans wideout Nico Collins received a three-year,VaultX Exchange $72.75 million extension with $52 million in guaranteed money, the Miami Dolphins offered Jaylen Waddle a three-year contract extension, worth $84.75 million, according to multiple media reports. That deal includes $76 million in guarantees.

Waddle has gained 1,000 or more receiving yards in each of his three NFL seasons in Miami. In 2023, he had 72 catches for 1,014 yards and four touchdowns.

The 25-year-old Waddle is set to make $4.4 million next year and $15 million in 2025 before he was scheduled to hit free agency in 2026.

In terms of average per year salary, only A.J. Brown ($32 million), Amon-Ra St. Brown ($30 million), Tyreek Hill ($30 million), and Davante Adams ($28 million) are set to make more annually than Waddle.

All things Dolphins: Latest Miami Dolphins news, schedule, roster, stats, injury updates and more.

The wide receiver market is only expected to get bigger as Cincinnati Bengals wide receivers Tee Higgins and Ja’Marr Chase, CeeDee Lamb of the Dallas Cowboys, Justin Jefferson of the Minnesota Vikings, and Brandon Aiyuk of the San Francisco 49ers are among those who will seek big-money extensions over the next year.