Boyd will be under team control through the 2023 season.
Prior reports had said that Boyd was looking for around $10 million per year in his next contract and it appears as though he was able to top that figure slightly. He’s now among the highest-paid slot receivers.
Boyd, 24, is a former second-round pick of the Bengals back in 2016. He was in the final year of his four-year, $4.237 million contract and set to make a base salary of $980,769 for the 2019 season.
In 2018, Boyd appeared in 14 games for the Bengals and caught 76 passes for 1,028 yards receiving and seven touchdowns. Pro Football Focus has him rated as the No. 12 receiver out of 117 qualifying players.