The market price for Wes Welker may have gone up after the Redskins gave Pierre Garcon a huge contract. (FILE:Icon/SMI)

There has already been a flurry of free agent activity, but one deal has stood out that could potentially have a negative effect on negotiations with Wes Welker on a long-term contract extension.

Welker, who has already had the franchise tag placed on him by the Patriots, is set to earn $9.4 million as it stands right now heading into next season.  However, by all accounts the two sides have seemed focused on making sure he’s here for much longer than that.

The bad news is, the Redskins appear to have just driven the market up for free agent receivers.

According to published reports Washington gave free agent wideout Pierre Garcon a 5-year contract this afternoon, reportedly worth approximately $42.5 million.  It also includes $21.5 in guaranteed money.

Greg Bedard of the Boston Globe pointed out on Twitter that the deal is bad news for the Patriots, and looking at the production you would have to agree.

Here’s a comparison between the two receivers over the last two seasons:

2011 Pierre Garcon: 70 catches, 947 yards, 6 touchdowns
2011 Wes Welker:  122 catches, 1569 yards, 9 touchdowns

2010 Pierre Garcon: 67 catches, 784 yards, 6 touchdowns
2010 Wes Welker:  86 catches, 848 yards, 7 touchdowns

Garcon is a bit younger than Welker (he’s just 25 years old, while Welker is 30 and will be 31 on May 1st) but it’s not that difficult to see who the better receiver has been over the past couple of seasons.

Needless to say it will be interesting to see what type of an effect this has on Welker’s new deal. But once again Dan Snyder has opened up his checkbook in a big way, and it’s obviously worked out well for the former Colts receiver.