San Diego Chargers quarterback Philip Rivers has agreed to a multi-year contract extension, the team announced on Saturday. It's a four-year extension that will keep him with the team through 2019. The deal is worth approximately $84 million in new money, with $65 million guaranteed, according to Ian Rapoport of the NFL Network.
Philip Rivers, Chargers agree on 4-year contract extension
Philip Rivers will remain with the San Diego Chargers through the 2019 season.
John Rieger-USA TODAY Sports
That means Rivers is just about on par with the other highest-paid quarterbacks of the league. All of Aaron Rodgers, Russell Wilson, Ben Roethlisberger, Cam Newton, Matt Ryan, Joe Flacco and Drew Brees are making an average of at least $20 million per season, and Rivers’ deal fits right in that tier. Rodgers still leads the group with an average of $22 million per season.
This deal would include the largest guaranteed money of any of those players, with Wilson coming the closest with just over $61 million in guarantees.
According to Ed Werder of ESPN, the deal also includes a surprising no-trade clause. The Chargers are one of the favorites to move to Los Angeles, and given Rivers’ lack of interest in raising his children there, it was thought that he would push for an out clause that allowed him to escape the franchise if it moved.
Instead, he’s now committed to the Chargers through his 38th birthday, no matter where they end up.
Rivers was coming into the final year of a six-year, $91.8 million contract he signed back in 2009. Initially, there was talk that the two sides wouldn't be able to work out a deal, especially given the relocation issues, with multiple trade rumors surrounding Rivers, the Chargers and the 2015 NFL Draft. But shortly after the draft, the Chargers claimed they were optimistic about an extension and here we are.
Rivers was making an average of just over $15 million per season on his previous contract, and his play hasn’t declined at all since he signed that deal. San Diego hasn’t found the success it wants, but that hasn’t had much to do with Rivers’ play. He’s been excellent for years, and is coming off a season in which he completed 66.5 percent of his passes for 4,286 yards, 31 touchdowns and 18 interceptions.
This could be the last big payday for Rivers, who is entering his 12th season in the NFL. He's been with the Chargers ever since he was traded from the New York Giants shortly after the 2004 NFL Draft. He has a completion percentage of 64.7 for his career and has thrown for 36,655 yards, 252 touchdowns and 122 interceptions.
Rivers was already set up for significant payday, but the numbers likely went up when Ryan Tannehill and Cam Newton both signed massive contracts. Tannehill is earning an average of $19.25 million per season through 2020 with the Miami Dolphins, while Newton is making more than $20 million per season in Carolina with his five-year, $103.8 million extension.
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