Cam Newton and the Carolina Panthers reached a deal on Tuesday that would keep the 26-year-old quarterback with the team until 2020, the team said in a press release. The deal is worth a reported $103.8 million, including a guaranteed sum of $60 million, according to CBS Sports reporter Jason La Canfora,
Cam Newton gets $103.8M in 5 year extension. Averages close to $21M/yr with $60M guarantee. Get massive $67.6M in 1st 3yrs. Wow…
— Jason La Canfora (@JasonLaCanfora) June 2, 2015
News that the two sides were close to reaching a deal broke Tuesday morning, but it wasn’t until the late afternoon that the numbers came to light. According to NFL.com’s Ian Rapoport, Newton will make $30 million in the first year of the deal alone.
The guarantees on Cam Newton’s 5-year, $103M extension? I’m told it’s $60M. He’ll get $30M in the first year.
— Ian Rapoport (@RapSheet) June 2, 2015
“This is something I’ll forever be grateful for. They believe in me. This puts a lot into perspective. I won’t take it for granted,” Newton said after inking the deal (via Panthers staff writer Max Henson).
The Panthers celebrated on Twitter before the ink was even dry, posting a pair of portraits of Newton with the papers.
— Carolina Panthers (@Panthers) June 2, 2015
While it’s likely analysts will debate whether Newton is worth all that cash, the team has no doubt. Per the Panthers’ press release:
Each of the last two years, Newton has led the Panthers to the playoffs. Carolina went 12-4 in 2013 with Newton establishing career bests with 24 touchdown passes, an 88.8 quarterback rating and a 61.7-percent completion percentage. Newton persevered through an adversity-laden 2014 season that saw him miss the first two games of his career to help rally Carolina to a 4-0 finish to the regular season that resulted in the Panthers becoming the first team to win consecutive NFC South championships.
But tell us how you really feel, Panthers.