In the days before the start of the regular season a number of big-time players have received big-time contracts, and 49ers tight end Vernon Davis is the latest player to cash in.
Adam Schefter of ESPN reports that Davis signed a five-year, $37 million contract extension with $23 million guaranteed, making him the highest-paid tight end in football.
Davis had one year left on the deal he signed after the 49ers made him the sixth overall pick in the 2006 NFL draft, and the five-year extension means he’s now locked in with the 49ers through the 2016 season.
Despite getting off to a rocky start with coach Mike Singletary, Davis emerged last season as one of the league’s best receiving tight ends, with 78 catches for 965 yards and 13 touchdowns. Now he’s been handsomely rewarded.
UPDATE: We’re told that the $23 million is guaranteed for injury, and that $14.5 million is guaranteed for injury and skill. The six-year value of the deal exceeds $42 million.