The Carolina Panthers have signed quarterback Cam Newton to a five-year contract extension, the team announced Tuesday.
The deal is worth up to $103 million, according to multiple reports. Ian Rapoport of the NFL Network was first to report the news, followed by ESPN's Adam Schefter. He'll earn $67.6 million in the contract's first three years, according to both reporters. Rapoport reports that $60 million is guaranteed.
Newton has a 30-31-1 record in four seasons as a starting quarterback for Carolina. The team selected him with the No. 1 overall pick in the 2011 NFL draft.
The Panthers picked up the fifth-year option on his rookie contract last year, so Newton is set to make $14.67 million for the 2015 season.
Newton, 26, has led the team to the postseason each of the past two seasons and picked up his first career playoff victory with a win over the Arizona Cardinals in the wild card round last season.
Newton, a two-time Pro Bowler and the Offensive Rookie of the Year in 2011, completed 58.5 percent of his passes for 3,127 yards with 18 touchdowns and 12 interceptions last season.
He also ran for 539 yards and scored five touchdowns, even though he missed two games after suffering two transverse process fractures in his lower back as a result of a December car accident.
- Scooby Axson