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