Chargers Officially Sign QB Philip Rivers To A Four-Year, $84M Extension

Update:

The Chargers announced that their agreement with QB Philip Rivers on a four-year contract extension is now official.

Now it's official. ✒️⚡️ pic.twitter.com/jaovBops6J

— Los Angeles Chargers (@Chargers) August 17, 2015

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The San Diego Chargers announced that they’ve signed QB Philip Rivers to a four-year contract extension that will keep him under team control through the 2019 season.

• Ian Rapoport reports that Rivers receives a four-year deal worth between $84-85 million in new money and $65 million guaranteed.
• If you factor in the final year of Rivers’ current deal, he stands to make around $100 million over the next five years.

The two sides had been talking in recent weeks, but some were concerned that the deal may not be in place before the start of the regular season and the Chargers may need to consider franchising him next year.

Rivers, 33, was entering the final year of his seven-year, $98.25 million contract that included $38.15 million guaranteed. He stands to make a base salary of $15.57 million for the 2015 season.

Despite dealing with some injuries last  year, Rivers was able to put together another solid season for the Chargers in which he threw for 4,286 yards while completing 66.5 percent of his passes to go along with 31 touchdowns and 18 interceptions.

Pro Football Focus has him rated as the No. 7 quarterback out of 39 qualifying players.