The San Diego Chargers have agreed to a contract extension with quarterback Philip Rivers through the 2019 season.
According to ESPN, the deal is worth $83.25m over four seasons with $65m guaranteed. The $65m guaranteed would give Rivers the most guaranteed money of any player under a current contract.
A Pro Bowl second-alternate in 2014, Rivers was named the team’s most valuable player for the sixth time in his career after passing for 4,286 yards and 31 touchdowns.
Rivers' current deal was set to expire at the end of the season and he had indicated that if the two sides hadn't reached a deal before the season started he would be comfortable playing out the remainder of his deal and potentially hitting free agency.
"My mentality has been the same since March, which is I'm playing this season right here," Rivers said 10 days ago.
"Like I said a few weeks ago, if something happens, it does. But I don't think you should hold your breath for an update any time soon."
The extension, announced Saturday night, comes as team chairman Dean Spanos has angered many Chargers fans by exploring a move to the Los Angeles area.
The team walked away from negotiations for a new stadium in Dan Diego in June and have partnered with the Oakland Raiders on plans for a $1.7 billion in Carson, just south of Los Angeles, if the teams cannot get new stadiums in their respective cities.