(Streeter Lecka/Getty Images)

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,

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.

“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.

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.