Cincinnati (AP) A person familiar with the agreement says that Cincinnati Bengals quarterback Joe Burrow agreed to a five-year, $275 million contract extension on Thursday, making him the highest-paid player in the NFL.

The individual, who requested to remain anonymous because the deal had not yet been made public, stated that it contains more than $219 million guaranteed.

Burrow’s contract, which will pay him an average of $55 million annually, places him above other elite quarterbacks in the league who inked new deals during the offseason.

Loved by teammates and Cincinnati fans alike, Burrow has turned the franchise’s fortunes around and established himself as a decisive, imaginative leader with a talent for figuring out how to gain yards when plays fall short.