The Houston Texans held a press conference today at 1:30p.m. CT at Reliant Stadium to announce Andre Johnson's new contract extension, a deal that makes him the highest paid wide receiver in the league.
Johnson received a two-year extension worth $38.5 million, including $13 million guaranteed, according to the Houston Chronicle. Adding to Johnson's old deal which still had five years and $35 million remaining, his deal is now worth seven years and $73.5 million—an average of $10.5 million a year.
The contract also has incentive bonuses and built-in escalators that can make it even more valuable.
"This will make him a Texan for life," Texans general manager Rick Smith said.
On the first day of training camp, Texans owner Bob McNair stated a deal should be completed within two weeks. Texans GM Rick Smith worked diligently with Johnson's agent Kennard McGuire to complete the deal before the two week deadline.
Kennard McGuire is also the agent of the Miami Dolphins' new WR Brandon Marshall and was able to renegotiate Marshall's contract this offseason as well.
"It's important that Andre have one home—and that's with the Houston Texans," Texans owner Bob McNair said. "He will probably be our first Hall of Fame player. We wanted to make sure he went in as a Texan and he played his career as a Texan. Hopefully he will retire as a Texan."
"He's been a heck of a player for a number of years, and I'm pumped for him," Houston Texans QB Matt Schaub said. "It just shows that this organization, from the top down, we're committed to keeping the players who are our nucleus. For him to get that (contract) says a lot about the type of player he is."
Andre Johnson is the franchise's all-time leading receiver with 587 receptions for 7,948 yards and 42 touchdowns in his seven-year career. He has led the team in receiving yards every year since being the Texans first-round draft selection in 2003 (third overall).
"Today, I’m very happy that we were able to get everything settled, and I can move forward with football,” Johnson said.