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Chris Harris, Broncos agree to five-year extension

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The Denver Broncos are locking up one of the NFL's most underrated defensive players.

The team announced that they have agreed to terms with cornerback Chris Harris on a five-year contract extension. NFL Media Insider Ian Rapoport is reporting that the deal is worth $42.5 million, per a source informed of the contract. 

Harris will collect a $10 million signing bonus and $24 million in guarantees, per Rapoport. Among all NFL cornerbacks, his contract ranks 12th in annual average.

The Denver Post first reported the extension.

Returning from February ACL surgery, Harris has played at a Pro Bowl level this season. Although he doesn't shadow opposing No. 1 receiver in the fashion of Darrelle Revis, Patrick Peterson and Aqib Talib, he has shown the versatility to excel both outside and in the slot.

Harris has held opposing quarterbacks to a 46.9 passer rating on throws in his direction, per Pro Football Focus, ranking with Richard Sherman and Vontae Davis among the league leaders. He hasn't surrendered more than 50 yards receiving or a single touchdown in the last calendar year.

In other words, he is more than deserving of a contract that acknowledges his status as the league's most effective "No. 2" cornerback.

Now that Harris' future is secure, the Broncos can turn their attention toward new contracts for wide receiver Demaryius Thomas and tight end Julius Thomas, both of whom are due to hit free agency in March.

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