Russell Wilson is getting paid.
The Seattle Seahawks have agreed to a contract extension with their quarterback to the tune of four-years $87.6 million.
The terms were first reported by Peter King of Sports Illustrated.
More from King:
Seattle general manager John Schneider and Wilson’s agent, Mark Rodgers, beat a 1 p.m. Eastern Time deadline—the official start time for the first training camp practice of Wilson’s fourth NFL season—by agreeing to a four-year, $87.6 million contract extension, making Wilson, for now, the second-highest-paid player in NFL history.
The deal includes a $31 million signing bonus and approximately $60 million in guarantees.
The previous biggest contract signed in the NFL was Aaron Rodgers’ five-year, $110 million contract in 2013. That contract became a major stumbling block in these talks, because it was signed 27 months ago, when the NFL salary cap was $123 million. Now, with the cap up 17 percent over the last two years (it is $143.8 million this year), Rodgers was insistent that the new contract wouldn’t be soon overtaken if Wilson was going to commit to the Seahawks long-term. With the cap likely increasing up to $10 million a year over the life of Wilson’s deal, Rodgers surely argued, Wilson’s deal had to be in Aaron Rodgers’ league. Turns out it was $100,000-per-year less.
Wilson was scheduled to make $1.54 million this season in the fourth and final year of his rookie contract.
Rodgers had put a Friday deadline to get a deal done, stating talks would be cut off and Wilson would become a free agent next season.
If no new contract was signed, Wilson faced being tagged as the franchise player next February.
Wilson commented on the deal Friday morning on Twitter.
— Russell Wilson (@DangeRussWilson) July 31, 2015
The biggest hiccup in contract negociations stemmed from "new money," the cash up front and guarantees Wilson would receive, in addition to the debate over a yearly salary.
Wilson's agent didn't want his client to get a rich deal, similar to that of 49ers QB Colin Kaepernick, but be incentive laden without guarantees.
Wilson will be under contract with the Seahawks through 2019.