Seahawks sign Russell Wilson to $87.6M extension

At long last, the Seattle Seahawks have signed Russell Wilson to a contract extension.

NFL Media Insider Ian Rapoport reports the four-year contract extension is worth $87.6 million, per a source involved in the negotiations. The deal includes a $31 million signing bonus and $61.53 million in guarantees.

Peter King of The MMQB first reported the news.

The agreement ends an offseason staring contest between the sides, which had set a self-imposed deadline of reaching an agreement before the Seahawks hit the field for training camp on Friday morning.

The sides had spent the past few weeks haggling over cash up front and guaranteed money.

Wilson's $21.9 million average per season over the course of the extension comes in just under Packers star Aaron Rodgers' $22 million, which currently is highest in the NFL -- at least until the Colts' Andrew Luck gets a new deal.

The $60 million in guarantees is on par with what Carolina Panthers quarterback Cam Newton earned on his five-year extension earlier this offseason.

Wilson's contract sets him up to make $3.1 million more than Newton, $200,000 more than Ben Roethlisberger and $1.3 million less than Rodgers over the four-year timeframe, per OverTheCap.com -- if all the quarterbacks play out their current deals.

By signing just a four-year extension, Wilson will enter the final year of his deal at just 30 years old, giving him an opportunity for another big payday. The shorter deal was a concession by the Seahawks, per Rapoport.

According to Rapoport, the full terms, per someone who has seen the deal, breaks down to $31 million to sign, a reduction in base salary in 2015 from $1.54 million to $700,000, $12.342 million in 2016 (includes $840K from his '15 base), $12.6 million in 2017, $15.5 million in 2018 and $17 million in 2019.

Wilson, a third-round pick in 2012, has had one of the most impressive starts to a career by any NFL quarterback. Through three NFL seasons he ranks first in total wins (42), playoff wins (6) and Super Bowl starts (2). He's also second in passer rating (98.5) and fourth in touchdown passes (84). Wilson has conducted the most game-winning drives by a quarterback since entering the league in '12 (15).

Much consternation was made in NFL circles about whether Wilson deserved a humungous contract and whether the Seahawks could afford paying the quarterback a top-shelf deal. The Seahawks' answer Friday was a resounding statement.

Franchise quarterbacks are the greatest commodities in all of professional sports. The Seahawks knew they had one. Now they'll pay him like it.

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