Greg Olsen, Panthers Agree on New Contract: Latest Details and Reaction

The Carolina Panthers announced Thursday that they signed tight end Greg Olsen to a three-year extension. 

Olsen thanked the Panthers organization on Twitter after signing the contract:

Olsen also paid tribute on Instagram:

Bleacher Report's Jason Cole reported on the financial particulars of the deal, which were announced by Olsen's agent, Drew Rosenhaus:

The 29-year-old is coming off a career year. He caught 84 passes for 1,008 yards and six touchdowns and earned his first trip to the Pro Bowl.

Since arriving in Carolina in 2011, Olsen has been one of the Panthers' most reliable pass-catchers, recording 271 receptions, 3,207 yards and 22 TDs. He's second among tight ends in team history in all three categories and will likely pass Wesley Walls in receptions and yards in 2015.

CBSSports.com's Pete Prisco feels Carolina did well to lock him up for the long term:

Having Olsen around for the next three years will be a boost for the Panthers passing attack. He's built a strong rapport with quarterback Cam Newton and become one of Newton's most trusted targets. Even if Olsen doesn't repeat his 2014 production, he's almost guaranteed to give Carolina 800-plus receiving yards and at least four touchdowns.

As Prisco notes, the Panthers still need another wide receiver to pair with Kelvin Benjamin, but an extension for Olsen ensures tight end won't have to be added to their shopping list this offseason.