On Friday, the New York Jets and Breece Hall agreed on a three-year, $45.75 million extension.

Hall, a 2022 second-round pick, is now locked up long-term and will enter the 2026 season with certainty regarding his future. The Jets had until July 15 to get a deal done with Hall ahead of the season, and they did just that on Friday.

He now ranks third among running backs in AAV (Average Annual Value), trailing only Saquon Barkley ($20.6 million) and Christian McCaffrey ($19 million).

Breece vs. the market

Last season was a glimpse of who Breece Hall can be when playing behind a competent offensive line. He set a career high in rushing yards (1,065) while continuing to be a threat in the receiving game, finishing second on the team in receiving yards (350).

The advanced analytics further indicate that an extension of this magnitude was deserved for Hall.

He did an outstanding job of generating yards over expected in both the rushing and receiving games. The former second-round pick logged 142 RYOE (rushing yards over expected) and 99 YACOE (yards after catch over expected), totaling 241 yards over expected.

Here is where those numbers ranked among running backs last season:

  1. Bijan Robinson, ATL (514) — 257 RYOE, 257 YACOE
  2. James Cook, BUF (389) — 358 RYOE, 31 YACOE
  3. Derrick Henry, BAL (370) — 340 RYOE, 30 YACOE
  4. Jaylen Warren, PIT (305) — 181 RYOE, 124 YACOE
  5. Jahmyr Gibbs, DET (298) — 167 RYOE, 131 YACOE
  6. Jonathan Taylor, IND (274) — 195 RYOE, 79 YACOE
  7. Breece Hall, NYJ (241) — 142 RYOE, 99 YACOE
  8. Rhamondre Stevenson, NE (234) — 176 RYOE, 58 YACOE
  9. De’Von Achane, MIA (231) — 242 RYOE, -11 YACOE
  10. TreVeyon Henderson, NE (158) — 149 RYOE, 9 YACOE

While dubbing him a top-five running back in the league at this juncture might be a reach, he was certainly top 10 at the position last year.

Timing is everything

Also, it is important to contextualize the state of the running back market. Bijan Robinson and Jahmyr Gibbs, two of the league’s top rushers, are each eligible for extensions, and it is expected that they will soon receive a massive payday.

Darren Mougey and the Jets’ front office took the right approach to this situation. Hall doesn’t have much more to prove. He has shown he can be one of the best dual-threat backs, both as a rusher and receiver.

Now, it is about getting him a viable quarterback to work with and continuing to strengthen the offensive line.

If the Jets rolled into the season with him on the franchise tag, the team would have been put in a rough situation. If he struggles early on, he becomes a trade candidate at the deadline, and the team would receive some later-round draft capital.

If he thrives, then Hall has all the leverage in negotiations, and the price would be much higher than the deal he and the Jets ultimately agreed to.

At the end of the day, the New York Jets didn’t overpay for running back Breece Hall’s services. They instead capitalized before it was too late.