Carson Wentz, Philadelphia Eagles agree to four-year, $128 million contract extension

The Philadelphia Eagles have locked in their franchise quarterback.

Carson Wentz and the Philadelphia Eagles have agreed to a four-year contract extension, the team announced on Twitter Thursday night.

The 26-year-old quarterback will be under contract through 2024. ESPN’s Adam Schefter reported the deal is for four years and as much as $128 million that includes guarantees of more than $107 million. That guarantee eclipses that of Seattle’s Russell Wilson, who had signed a four-year deal worth $140 million, with $107 million guaranteed.

Wentz, the No. 2 overall pick in the 2016 draft, posted a short video on Twitter with his reaction to the news.

“I can’t even explain to you how excited I am right now to be a part of this great city for this many more years,” Wentz said in the video. “It means the world to me. From the moment I got drafted here I knew this place was special.”.

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Both Wentz and Eagles executive vice president for football operations Howie Roseman had openly said they wanted to get a new deal done. But there was a question as to whether it would be beneficial for both parties to do it now, or wait until after next season.

Wentz is coming off of two straight seasons of injuries. A torn ACL suffered Dec. 10, 2017 cost him the rest of that season and the Eagles’ Super Bowl run. A stress fracture in his back, diagnosed on Dec. 9, cost him the rest of last season and a playoff run.

In both situations, the Eagles turned to backup Nick Foles, who was named the MVP of the Super Bowl.

The Eagles allowed Foles to become a free agent after last season, thus confirming Wentz’s status as the franchise quarterback.

Wentz could have gambled on staying healthy this season and returning to the MVP form he had shown in 2017 and gotten more money in an extension. The Eagles, for their part, could have waited another season to see if Wentz could have an injury-free season. If not, they could have given him less money.

The Eagles began that process by picking up Wentz’s fifth-year option on April 29, which is worth about $23 million. The contract counts $8.5 million against the salary cap.

The extension will kick in after the 2020 season.

Contact Martin Frank at [email protected]. Follow on Twitter @Mfranknfl.

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