Odell Beckham Jr. of the New York Giants has signed a five-year contract extension, reportedly for $95 million, making him the highest-paid wide-receiver in NFL history.
The deal has an initial value of $90 million, with an additional $5 million available through incentives, with the contract including $65 million guaranteed even covering injuries. According to NFL Network, the 25-year-old Beckham will make an average $20 million over the first three seasons.
"You can't force things, it's a negotiation. It's a back and forth, both sides have to be intentional and thoughtful, which we were," Giants General Manager Dave Gettleman said as the deal was signed on Monday. "It was great negotiating, it was a very good give and take with Kevin (Abrams, the assistant general manager) and Zeke (Sandhu, Beckham's agent). We got to the right answer as far as I'm concerned."
Beckham's deal surpasses the annual average $19 million paid among wide receivers and sets a record for guaranteed amounts, eclipsing the annual contracts of Pittsburgh Steelers' Antonio Brown at $17 million annually and the $55 million guaranteed received by Mike Evans of Tampa Bay.
"It was just a time of patience and waiting and I knew that it would get done, it just was a matter of when and I'm just so happy that it is finally done now," Beckham told the Giants official website.
Beckham was scheduled to make just under $8.5 million in 2018, on the fifth-year option of his rookie contract. The sides opened negotiations in late July and had steadily made progress since. Beckham has routinely told reporters he expected the situation to work itself out.
"Honestly, I don't even know how to explain it," Beckham said. "I don't know if it's a relief, I don't know — it's a combination of everything. You've worked all your life to get to this point and it's finally here."
A first-round pick in 2014, Beckham racked up 288 catches for 4,122 yards and 35 touchdowns during his first three seasons and Pro Bowl campaigns. He collected 25 grabs for 302 yards and three touchdowns in four games last season before suffering a season-ending broken ankle in October.
In 2017, Beckham was part of another record-breaking deal for an NFL player, when Nike prevailed over Adidas to sign him to its products. That endorsement deal was reported to be worth $29 million over five years and is set to provide Beckham with an outlet to produce a line of lifestyle products, as well as athletic equipment.
Beckham has yet to play this preseason, but he is expected to be fully ready for the Sept. 9 regular-season opener against the Jacksonville Jaguars.