Colts Officially Sign QB Philip Rivers To One-Year, $25M Deal

The Indianapolis Colts announced Saturday that they’ve officially signed QB Philip Rivers. to a one-year contract worth $25 million. 

1️⃣7️⃣ is heading to the 3️⃣1️⃣7️⃣ pic.twitter.com/lOpxSDGhca

— Indianapolis Colts (@Colts) March 21, 2020

“Philip is one of the most decorated quarterbacks in the NFL and we are fortunate to add an experienced player of his caliber to our organization,” Colts general manager Chris Ballard said. “His familiarity with our coaching staff and offensive system in addition to his experience were attractive qualities during our evaluation process. Philip is a fierce competitor and his veteran leadership will be crucial in the continued development of our young roster.”

Rivers’ agreement with the Colts was first reported on Tuesday, but it took until now for the Colts to officially announce the deal.

It became clear a while ago that Rivers was likely to end up with the Colts, given that he has a great relationship with HC Frank Reich from their time together with the Chargers. 

Rivers, 38, is a former first-round pick of the Giants back in 2004. He was later traded to the Chargers in return for Eli Manning.

Rivers just finished the final year of his five-year, $99 million contract that includes $65 million guaranteed and stands to make a base salary of $11 million for the 2019 season. He will be an unrestricted free agent for the first time in his NFL career. 

In 2019, Rivers appeared in all 16 games for the Chargers and completed 66 percent of his passes for 4,615 yards, 23 touchdowns and 20 interceptions.