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Russell Wilson has reportedly reached an agreement on a five-year, $245 million contract extension with the Denver Broncos, which will include $165 million guaranteed, sources with knowledge of the deal confirmed to ESPN's Adam Schefter on Thursday (September 1).
"Deal now ties Wilson to Denver for seven total years and $296 million. Another massive QB deal in the books," Schefter tweeted.
Wilson is now the highest-paid Broncos player in franchise history, according to Schefter, as well as the second-highest-paid quarterback in the NFL in terms of average annual value behind only Aaron Rodgers of the Green Bay Packers, according to NFL Network's Ian Rapoport.
Wilson seemingly confirmed the deal in a tweet shared on Thursday.
"ALL THE GLORY TO JESUS!!! #HEisKING," Wilson wrote shortly after reports of his extension.
Wilson was traded to the Broncos in March after spending his entire NFL career with the Seattle Seahawks.
The former Wisconsin standout is a Super Bowl champion (XLVIII), the 2020 Walter Payton NFL Man of the Year, the 2015 NFL passer rating leader, the 2017 NFL passing touchdowns leader and a nine-time Pro Bowl selection.
Wilson threw for 3,113 yards, 25 touchdowns and six interceptions, while also recording 183 yards and two touchdowns on 43 rushing attempts in 2021.
The Broncos will face the Seattle Seahawks at Lumen Field in the Week 1 Monday Night Football matchup of the 2022 NFL season on September 12.