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Five-year, $65 million extension for T.Y. Hilton

Indianapolis Colts wide receiver T.Y. Hilton walks off the field after an interception by the New England Patriots during the second half of the NFL football AFC Championship game Sunday, Jan. 18, 2015, in Foxborough, Mass. (AP Photo/Julio Cortez)


The Broncos and Cowboys gave receivers Demaryius Thomas and Dez Bryant, respectively, five-year, $70 million contracts in the final moments of the expiration of the deadline for signing franchise-tagged players to long-term deals.

Colts receiver T.Y. Hilton has gotten a similar contract a full season before application of the franchise tag.

Per a league source, Hilton’s contract is a five-year extension, with a total value of $65 million. Also, $39 million is guaranteed. (The amount fully guaranteed at signing is not yet known.)

He was due to earn $1.542 million in 2015, which makes it a six-year, $66.542 million dollar deal.

Still, unlikely Thomas and Bryant, Hilton was given a chance to swap out the injury risk arising from a final season -- along with a possible dip in his numbers thanks to the presence of Andre Johnson, Donte Moncrief, and Phillip Dorsett -- in exchange for something similar to what the receivers who had finished five years of service received last month. Hilton has played only three years.

The early details suggest that it’s a win-win, like the Russell Wilson contract. Hilton could have gotten more by waiting until February -- and he also could have gotten a lot less.

Technically, the deal isn’t yet done. Although the Colts have announced it, they’ve specifically said he simply has “agreed to terms.” Per a league source with knowledge of the situation, nothing has been signed yet.

Still, with the Colts announcing the deal, it boxes both sides in to finishing the job. Look for a photo of Hilton with pen to paper to come sooner than later.