Matt Stafford is taking a team-friendly contract offer from the Los Angeles Rams that bumps him up to the joint-fourth highest paid quarterback in the NFL while not eating up too much of the team's salary cap room.
Stafford finished with 4,886 regular-season passing yards, 41 touchdowns and a league-high 17 interceptions in his first season with the Rams, who are 10/1 to repeat as Super Bowl winners next season.
The former Detroit Lions star then played lights out in the play-offs as his 1,188 yards, nine touchdowns and three interceptions in four postseason games led the Rams past the Arizona Cardinals, Tampa Bay Buccaneers, San Francisco 49ers and to a home Super Bowl victory over the Cincinnati Bengals.
According to Ian Rapoport of NFL Network, Stafford's four-year contract is worth $160million and comes with $135m guaranteed.
The average annual salary of $40m per year, ties him with Dallas Cowboys star Dak Prescott as the fourth-highest paid quarterback in the league, according to Sportrac.
The new deal has been in the pipeline for weeks and falls in line with Rams head coach Sean McVay's wishes that securing the futures of his Super Bowl-winning QB and defensive end Aaron Donald wouldn't financially cripple the franchise.
"I think the other thing that's special is that these guys deserve, and they will be rewarded accordingly, but I think they also understand - they want to work in coordination to try to help us be as competitive as we can," McVay said, via nfl.com.
The Rams did anger their fans on Saturday by letting Robert Woods, their former number one wide receiver, go to the Tennessee Titans in exchange for a sixth-round pick in 2023.
The 29-year-old has two 1,000-yard seasons and 367 catches in five years with the Rams, but is coming off a torn ACL and has escalating cap hits of between $13.5-17.5m in each of the next four years.