Just last week it was reported that it was a "virtual certainty" that the San Diego Chargers and quarterback Philip Rivers would not agree to a contract extension before Week 1. Now just a day after San Diego wrapped up its first preseason game, it appears an agreement has now been made.
The 33-year-old has spent his entire 11-year career with the Chargers after being the fourth-overall pick in 2004 as Drew Brees protégé. Rivers was set to become a free agent after this season, now he has agreed to a four-year contract extension that will likely take him to the end of his career. It certainly comes as a surprise after Acee's earlier report that there was "at least one sticking point" preventing a deal.
It's possible that sticking point was the Chargers potential relocation to Los Angeles, it's been well reported that Rivers was against relocation to the big city. While relocating remains up in the air for the Chargers, one thing this contract extension will do is make sure Rivers has more money to financially support Rivers' wife and their seven kids for a long time.
Rivers has spent the past two seasons working with head coach Mike McCoy, who has helped him return to the Pro Bowl caliber quarterback many were used to. Over the past two seasons, Rivers has combined to throw for 8,764 yards, 63 touchdowns, a 68 completion percentage and just 29 interceptions. San Diego has gone 9-7 in each of the two seasons and made it to the playoffs in 2013, where they lost in the divisional round.
UPDATE:
The extension will add nearly $85 million total, with $65 million of it guaranteed. In 2009, Rivers signed a seven-year, $98.25 million deal, which is a great example of how much quarterback salaries have escalated the past six years with the rising salary cap and the demand for top quarterbacks. Rivers was set to make $15.75 million this season and following this season, will see his yearly salary jump up to roughly $21 million per season.
$65 million guaranteed certainly stands out but as the days unfold and more information becomes available, it will be reported exactly how much of that is fully guaranteed and what portion of it is conditional for injury or being on the roster after a certain date.