NFL Network Insider Ian Rapoport reported Friday that the Giants have signed with their star pass-rusher to a four-year contract, per a source informed of the negotiations. The deal is for $62 million with a whopping $40 million guaranteed.
The contract also includes a $20 million signing bonus, and he'll earn $34 million within 11 months and $49.5 million over the first three years, Rapoport added. The contract ranks No. 2 among NFL defensive ends in highest average annual value, per NFL Research. Only teammate Olivier Vernon's $17 million per season salary bests Pierre-Paul's $15.5 million.
"This is where I wanted to be," Pierre-Paul told the team's official website. "I couldn't imagine me being anywhere else. I'm back for four years and I'm ready to get after it.
"It means a lot to me, because I started here, and obviously I want to finish here," he continued. "I've seen a lot of guys come and go, especially in my (draft) class. I'm the only one left in my class here. It means a lot. We won a Super Bowl here, and I'm looking forward to putting a fifth trophy in the case."
Pierre-Paul was slapped with the non-exclusive franchise tag last month, but the plan in New York was always to hammer out a long-range pact for his services.
Pierre-Paul, 28, made national headlines in 2015 when he lost his right index finger and badly damaged the rest of his right hand in a Fourth of July fireworks accident.
He returned from that gruesome accident to post one sack over eight games in 2015 before surging back last season to notch seven takedowns and three forced fumbles.
"We're happy to get a long-term deal with Jason," general manager Jerry Reese said. "Not only is he one of our best players, he is one of our leaders."