Nick Chubb and the Cleveland Browns reached an agreement on a three-year, $36.6 million extension, according to ESPN's Adam Schefter.
After earning $3.4 million in 2021, Chubb will get a significant raise. His new extension will pay an average of $12.2 million per season. That will make him the fifth-highest paid tailback in the NFL. Chubb's cap hit will trail only Ezekiel Elliott ($16.5 million), Derrick Henry ($15 million), Alvin Kamara ($14.5 million) and Christian McCaffrey ($14.3 million), per Spotrac.
Chubb entered the 2021 season with his rookie deal set to expire after four years and $7.4 million. Spotrac previously projected his market value at $12.1 million, expecting him to sign for four years and $48.5 million, which would make him the seventh-highest paid running back in the league.
At the end of his rookie deal, the No. 35 overall pick in the 2018 NFL draft was the 27th-highest-paid tailback.
As the Browns continue to keep their championship window open, Chubb has solidified his spot in their backfield where he's teamed up with Kareem Hunt. In 2020, they helped the team achieve the third-best rushing offense in the league with 148.4 yards per game and 21 touchdowns.
Chubb accounted for 1,067 rushing yards and 12 touchdowns himself last year—his second consecutive season with more than 1,000 yards—while hauling in 16 catches for 150 yards but no scores as the team reached the playoffs for the first time since 2002.
As Cleveland looks to remain a force in the AFC North, the 25-year-old is now locked in through 2025.
Chubb will now look to end a Browns championship drought that dates back to 1964.