NFL Media Insider Ian Rapoport reported on "NFL AM" that the deal is worth $20.6 million and is fully guaranteed.
Still, the 22-year-old has admitted he has a lot of growing to do in the Jags' offense before he's the franchise quarterback general manager Dave Caldwell spent the No. 3 pick on.
"It's been huge, the amount of growth that's happened, the amount of more knowledge I know," Bortles said, according to the Jags' official web site. "I'm trying to get better each and every day and trying to improve what I can do."
The selection of Bortles came as an early surprise as Caldwell kept his infatuation with the big signal-caller under wraps. The GM waited until the end of the evaluation process to discuss with his own staff his desire to nab Bortles. And when NFL Media's Daniel Jeremiah called to pick the talent evaluator's brain, Caldwell fibbed about a call he had to take when Bortles' name came up.
Bortles has the talent to hoist an up-and-coming Jags team out of the depth of football despair. However, still staring at one of the NFL's most talent-deprived rosters, Caldwell and coach Gus Bradley have been consistent that they want the rookie learn from the bench while they lean on veteran Chad Henne.
We continue to believe at some point this season the Jaguars will hand the reins over to Bortles. At that point the future will begin in Jacksonville.