This might just be a homer Lou-Holtzin' ... but something that concerns me a lot is that the book seems to be out on how to stop Jimmy Graham -- hold one of his hands/arms while the ball is on its downward trajectory. Refs won't call it, Graham (apparently) can't fight through it. Unless something changes about (a) either Graham's ball-in-air technique against "holding DBs" or (b) the way the refs call defensive PI, it seems that Graham's best years might now be behind him.
Graham is going to have to put on upper body weight this off season. Simple as that. He has to break some of those holds and fight through to the ball. If he gets paid Top WR money I am going to be pissed. He is a very good TE and should be paid at or near what Gronk's deal was. Top TE money.
Gronkowski- 8 year, $55 million, $13 million guaranteed
Megatron- 8 year, $150.5 million, $60 million guaranteed
Gronk didn't sign an 8-year extension. He signed a 6-year extension when he still had two years remaining on his rookie contract. The Patriots retained his rights for 8 more seasons after his contract was signed, but essentially the extension added 6 years at the cost of an extra $55 million, or about $9m APY.
Megatron and Fitz have huge outlier contracts at their position, and aren't really considered when discussing what the market is at the position. Both players have an APY (average per year) of over $16 million. No one else in the league has an APY within even 20% of that. Basically, top WRs are looking at something more in the Mike Wallace, Percy Harvin, Vincent Jackson range- 5 years, ~$60m dollars, and maybe $25m guaranteed. Good for an APY of about $12m.
Rob Gronkowski signed his extension at a discount because he still had two years remaining on his rookie contract. Basically, he gave them a discount on the back end in order to stake an early claim to $8m worth of signing bonus, rather than playing out the remaining two years of his deal and hoping for the best. As Aaron Hernandez demonstrated, sometimes extending early is a very, vary smart move. Of course, extending early comes at a cost, and you get a smaller total contract as a result. Still, had Gronk not done it, he'd be negotiating a new contract right now, and his leverage would be shot with all of his recent injuries. So it worked out for him.
Jimmy Graham didn't take the safe path with New Orleans. He played out his entire rookie contract, risked injury, and made it to free agency in one piece. As a result, even if he were going to make "TE money", he'd command a sizeable upgrade over Gronkowski's contract with its early-extension discount. How much of an upgrade? I'd say something in the $12m APY range certainly seems reasonable for Graham- basically, "top WR money (non-Fitzgerald/Calvin edition)". So whether the Saints consider Graham to be a WR, or a TE, or a Punter, it doesn't make much difference- either way, Graham's probably looking at a 5-year, $60m, $25m guaranteed kind of deal. Probably a bit more since he's better than Mike Wallace and every new stud to hit the open market always wants to set the new top of the market.
The WR/TE designation is really only important for franchise tag purposes. In terms of long-term contract negotiations, Graham's going to get what he's going to get, and it'll probably work out to #1 TE / top-5 WR money regardless of how the Saints view him.