The Oakland Raiders announced Monday that King has been signed to a long-term contract extension. NFL Media Insider Ian Rapoport reports that the deal is worth $16.5 million over five years, according to a source with knowledge of the situation.
Per Rapoport, the contract includes $5.125 million that is fully guaranteed, second most among punters. The guaranteed money jumps to $10.75 million by year three.
Last season, King punted 83 times for 3,697 yards (44.5 gross average; 40.7 net average) and set a franchise record with 40 punts placed inside the opponents' 20-yard line. His 40 punts downed inside the 20 ranked second in the NFL in 2015.
King was signed as an undrafted free agent in 2012. He sat out his first season with injury but has been a bedrock of Oakland's special teams since. He was rewarded for that on Monday.