Quarterback Deshaun Watson and the Houston Texans have agreed to a four-year contract extension worth more than $175 million US, ESPN reported Saturday.
The total deal is valued at $177.54 million and includes $111 million in guaranteed money, ESPN said. Watson, who turns 25 later this month, will receive a signing bonus of $27 million, multiple outlets reported.
The extension will keep him with the Texans through 2025.
Watson will receive the signing bonus, in installments, by the end of the calendar year and play out his rookie contract the next two seasons, earning $1.18 million in 2020 and $17.54 million next season.
While the Texans had not confirmed the signing as of Saturday afternoon, Watson did, posting a statement to social media.
The Watson contract is the second largest in NFL history, in terms of both total and guaranteed money, to the 10-year contract extension signed earlier this off-season by Kansas City Chiefs quarterback Patrick Mahomes, whose deal is worth up to $503 million.
Mahomes and Watson will battle Thursday night when the Chiefs and Texans open the 2020 NFL season in Kansas City.
The Texans selected Watson, a Clemson product, with the No. 12 overall pick in the 2017 NFL Draft. In three seasons, he has appeared in 38 games (37 starts) and been selected to two Pro Bowls. He has completed 66.8 per cent of his passes for 9,716 yards with 71 touchdowns and 29 interceptions.
A dual-threat quarterback, Watson has carried the ball 217 times for 1,233 yards and 14 scores.
Mahomes (No. 10 overall) and Watson were two of the three quarterbacks selected in the first round in 2017. The Chicago Bears took Mitchell Trubisky with the No. 2 overall pick.
Trubisky apparently has fought off a challenge from veteran Nick Foles and will start Week 1 for the Bears. However, he must prove himself in 2020. The team declined his fifth-year option.