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San Diego Chargers quarterback Philip Rivers, who has thrown for more than 10,000 yards over the past three seasons, has agreed to a new contract extension with the club.
The extension is for six years and is worth $92 million. About $38-39 million is guaranteed. More importantly, the deal will keep Rivers off the free-agent market next spring, and will preclude the Chargers from having to exercise a franchise designation to retain him. The extension comes amid reports that the Chargers would have a difficult time reaching an extension accord with Rivers, a first-round choice in the 2004 draft.
But the negotiating climate turned over the weekend, and keeping Rivers for the long term with the extension is a coup for general manager A.J. Smith, who has done an exemplary job in keeping the nucleus of his roster intact with contract extensions.
It is not yet known what altered the tenor of contract discussions, but it's believed that Rivers became personally involved in the talks.
Without the deal, Rivers would have been eligible for unrestricted free agency next spring, with or without an agreement between the league and union on an extension of the collective bargaining agreement. San Diego would almost certainly have retained Rivers by naming him a franchise player, but at a cost believed to be about $16 million for a one-year tender.
Rivers, 27, was entering the final year of the six-year, $40.5 million rookie contract he signed in 2004 after a lengthy and sometimes acrimonious negotiation.
After sitting behind Drew Brees his first two seasons in the NFL, Rivers became the San Diego starter in 2006, when Brees departed for New Orleans as a free agent.
He has started all 16 games in each of the past three seasons, and the former North Carolina State star is coming off a career year in which he led the league in passer rating and touchdown passes, and was fourth in the NFL in passing yardage. He completed 312 of 478 attempts last season, with only 11 interceptions.
For his career, Rivers has completed 890 of 1,428 passes for 10,697 yards, with 78 touchdown passes, 36 interceptions, and a passer rating of 92.9. Most of that production has come in the past three seasons, with Rivers seeing only limited action in 2004 and 2005. Before 2006, he had yet to start a game.
Rivers was the fourth overall choice in the 2004 draft, selected by the New York Giants. Within an hour of that choice, however, he was traded to San Diego for quarterback Eli Manning, the first pick in that year's lottery. Manning recently signed a six-year, $97.5 million extension to his deal.
An extremely accurate passer despite a somewhat unconventional delivery, Rivers has emerged as a leader for the Chargers, who many feel possess the most talented roster in the league.
He has solidified his standing with his teammates because of his toughness and ability to play through pain.
Two years ago, Rivers played in the AFC championship game at New England despite a knee injury that kept him out of practice for much of the pregame preparations.
It was subsequently revealed that Rivers played with a damaged anterior cruciate ligament that later required surgery.
The extension is for six years and is worth $92 million. About $38-39 million is guaranteed. More importantly, the deal will keep Rivers off the free-agent market next spring, and will preclude the Chargers from having to exercise a franchise designation to retain him. The extension comes amid reports that the Chargers would have a difficult time reaching an extension accord with Rivers, a first-round choice in the 2004 draft.
But the negotiating climate turned over the weekend, and keeping Rivers for the long term with the extension is a coup for general manager A.J. Smith, who has done an exemplary job in keeping the nucleus of his roster intact with contract extensions.
It is not yet known what altered the tenor of contract discussions, but it's believed that Rivers became personally involved in the talks.
Without the deal, Rivers would have been eligible for unrestricted free agency next spring, with or without an agreement between the league and union on an extension of the collective bargaining agreement. San Diego would almost certainly have retained Rivers by naming him a franchise player, but at a cost believed to be about $16 million for a one-year tender.
Rivers, 27, was entering the final year of the six-year, $40.5 million rookie contract he signed in 2004 after a lengthy and sometimes acrimonious negotiation.
After sitting behind Drew Brees his first two seasons in the NFL, Rivers became the San Diego starter in 2006, when Brees departed for New Orleans as a free agent.
He has started all 16 games in each of the past three seasons, and the former North Carolina State star is coming off a career year in which he led the league in passer rating and touchdown passes, and was fourth in the NFL in passing yardage. He completed 312 of 478 attempts last season, with only 11 interceptions.
For his career, Rivers has completed 890 of 1,428 passes for 10,697 yards, with 78 touchdown passes, 36 interceptions, and a passer rating of 92.9. Most of that production has come in the past three seasons, with Rivers seeing only limited action in 2004 and 2005. Before 2006, he had yet to start a game.
Rivers was the fourth overall choice in the 2004 draft, selected by the New York Giants. Within an hour of that choice, however, he was traded to San Diego for quarterback Eli Manning, the first pick in that year's lottery. Manning recently signed a six-year, $97.5 million extension to his deal.
An extremely accurate passer despite a somewhat unconventional delivery, Rivers has emerged as a leader for the Chargers, who many feel possess the most talented roster in the league.
He has solidified his standing with his teammates because of his toughness and ability to play through pain.
Two years ago, Rivers played in the AFC championship game at New England despite a knee injury that kept him out of practice for much of the pregame preparations.
It was subsequently revealed that Rivers played with a damaged anterior cruciate ligament that later required surgery.
