Lions Sign QB Matthew Stafford To Three-Year Extension

ESPN’s Adam Schefter reports that the Detroit Lions are on the verge of signing QB Matthew Stafford to a “blockbuster extension.”

• Stafford receives a three-year extension worth $53 million and including a $41.5 million guaranteed. (Adam Schefter)
• Stafford receives a $27.5 million signing bonus. (Pro Football Talk)
• Stafford will be under team control through the 2017 season. (Pro Football Talk)
• Stafford’s new deal will allow him to sign another huge contract when he’s 29 years old. (Adam Schefter)
• The Lions are expected to receive $7 million in total cap space over the next two years. (Pro Football Talk)

Previous reports indicated that the Lions weren’t willing to negotiate a long-term contract with Stafford during the season, so there’s an obvious incentive to get a deal done as soon as possible.

Stafford, 25, still has two years left on his contract. He has  base salaries of $12.5 million and $11 million remaining on his contract with a team option in 2015 of $15 million. As of now, Stafford counts $20.8 million against the team’s salary cap. In 2014 that number will drop a bit to $19.3 million.

We’ll have more as the news becomes available.