The Denver Broncos and quarterback Russell Wilson have agreed on a five-year, $245m extension that includes $165m in guarantees, according to multiple sources.
ESPN first reported the news, which was later confirmed to the Associated Press by a person with knowledge of the deal.
The extension pays Wilson an average salary of $49m a year and keeps him in Denver through the 2028 season. The 33-year-old’s deal is the third-highest in NFL history in terms of guaranteed money. Only the Cleveland Browns’ Deshaun Watson ($230m) and Kyler Murray of the Arizona Cardinals ($189.5m) have more lucrative contracts.
Wilson had two years and $51m left on his contract when the Broncos acquired him from Seattle in March for a package of three players and five draft picks. Wilson is set to earn $24 million this season and $27m next year before the extension kicks in.
The nine-time Pro Bowler trails only Tom Brady and Aaron Rodgers in touchdown passes over the last 10 years. He led the Seahawks to victory in Super Bowl XLVIII, their only NFL title to date.
Wilson will make his Denver debut on 12 September when the Broncos open their season at Seattle, where Wilson played for a decade.