Tampa Bay wide receiver Mike Williams told the media on Wednesday that a contract extension was "very close" (via the Tampa Bay Times). The Buccaneers have been negotiating Mike Williams' contract since early this offseason, pausing negotiations in the run up to and aftermath of the NFL draft.
It's not clear what kind of contract Wiliams is seeking, but I speculated on the compensation in a previous article.
Williams is more likely to get a contract similar to deals signed by Reggie Wayne, Wes Welker, Danny Amendola and Brian Hartline, averaging around $6 million per year. Perhaps his best case scenario is Antonio Brown's contract, who received a six-year, $43 million contract after just two years in the league after posting 1,108 yards receiving in 2011. Brown's contract averaged $7.2 million per year, but he only received $8.5 million in guaranteed money.
Williams has been a very good second receiver in his time in the NFL so far, though he faltered when he was asked to be the focal point of the passing game in 2011. Re-signing him before he hits free agency next season makes perfect sense, and rewards a young somewhat underpaid player for his performance.