Quarterback Cam Newton has agreed to a five-year contract extension with the Carolina Panthers and a person close to the negotiations says the deal is worth $103.8 million.
The person says Newton will earn $67.6 million over the first three years, the most money ever paid to an NFL player during the first three years of a contract. The person spoke to The Associated Press Tuesday on condition of anonymity because the financial terms of the extension have not been released.
The deal keeps Newton under contract through the 2020 season. The Panthers will hold a press conference Tuesday evening.
The 26-year-old Newton has been to two Pro Bowls and led Carolina to back-to-back NFC South championships since the Panthers made him the No. 1 overall pick in the 2011 NFL draft.