Philip Rivers Signs 4-year Deal With Chargers

The San Diego Chargers announced late last night that they have signed former NC State Quarterback Philip Rivers, to a 4-year contract extension worth $84 million.  Rivers had previously announced that contract negotiations would cease when the season started, and that he was alright with playing out the season without a deal finalized.  The new contract will pay Rivers an average of $20,812,500 per year, which is good for 4th highest in the league (4th highest amongst QB’s).  Rivers will also receive $65 million guaranteed, which is the most guaranteed money of any player under contract currently in the NFL.  If you factor in the fact that Rivers is due to get paid $15.75 million this season in the final year of his previous contract, his new contract is really worth $99.75 million over 5 years.  To put this in perspective, Russell Wilson’s contract is worth $89.142 million over the next 5 years.

Ever since taking over the starting job after the exit of Drew Brees, Rivers has started 144 consecutive games (every single game) for the Chargers, which is the 2nd longest active streak (Eli Manning – 167).  Rivers is a 5-time pro bowler and has led the Chargers to the playoffs 5 times (AFC Championship Game – 2008) and 4 division titles.

Last season, Rivers passed for 4,286 yards and 31 touchdowns, both ranking 8th.

Rivers is currently 33 years old and he will be 38 years old at the end of his new extension.

Comgrats Philip!