Seahawks Sign QB Russell Wilson To A Four-Year, $87.6M Extension

Update:

The Seahawks have made it official by announcing their agreement with QB Russell Wilson.

#Seahawks sign @DangeRussWilson to four-year contract extension: [http://t.co/Y09YEu1dBb] #GoHawks pic.twitter.com/WaSeh6jXVx

— Seattle Seahawks (@Seahawks) July 31, 2015

Blessed to be w/ this organization for 4 more years! Can't wait to get on field w/ the fellas! @Seahawks #ChampionshipMindset #GoHawks

— Russell Wilson (@DangeRussWilson) July 31, 2015

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Peter King is reporting that the Seahawks and Russell Wilson have agreed to a four-year, $87.6 million extension. According to King, Wilson’s new contract includes a $31 million signing bonus, with approximately $60-million guaranteed.

• Pro Football Talk clarifies that Wilson’s deal is a four-year extension, which means he’s under team control for four years and the total value of his contract comes out the $89.1 million.
• According to Ian Rapoport, the two sides worked deep into the night to hammer out this contract.
• One of the concessions from the Seahawks was offering four years, which is rare for a quarterback contract, per Rapoport.
• Joel Corry points out that this contract will use $6.2 million of the Seahawks existing $9.27 million cap space. Corry adds that Wilson’s 2015 cap figure would be $7,896,868 if Seattle kept Wilson’s current salary in place.

Contract details:

• Wilson’s base salaries will be: $700,000 (2015), $12.34M (2016), $12.6M (2017), $15.5M (2018), and $17M (2019).

It looks like the two parties were, in fact, able to beat Wilson’s self imposed deadline to negotiate a long-term extension.

Mike Florio of Pro Football Talk reported late last night that there’s a belief in league circles that the Seahawks and Wilson could have a long-term extension in place within the next 48 hours, which was really the only sign of optimism that a deal could get done at all.

This move will allow the Seahawks to shift gears and focus on retaining MLB Bobby Wagner. However, there is a chance they may have to wait until next year and use their franchise tag on him.

Wilson, 26, had one year remaining on his four-year, $2.198 million rookie contract, which includes a base salary of $798,651 for the 2015 season.

In 2014, Wilson threw for 3,475 yards while completing 63.1 percent of his passes for 20 touchdowns and seven interceptions. He also ran for 849 yards and scored six rushing touchdowns over the course of 16 games.