CINCINNATI (AP) — Cincinnati Bengals quarterback Joe Burrow became the highest-paid player in the NFL on Thursday, agreeing to a five-year, $275 million contract extension, according to a person familiar with the deal.

The contract includes more than $219 million guaranteed, said the person, who spoke on condition of anonymity because it hadn’t been announced.

The deal, which will pay Burrow an average of $55 million a year, puts him ahead of other top quarterbacks in the league who signed new deals in the off-season.

Signing the 2022 Pro Bowler and 2021 AP NFL Comeback Player of the Year to an extension was a goal of the team this summer, but the deal wasn’t finalized until three days before the Bengals’ season opener at Cleveland.

“This is where I want to be my whole career,” Burrow told reporters on Wednesday. “You’ve seen what the front office has done and what Zac (Taylor) has done in their time here. I’m a small part of that. I’m excited to be a part of that. And we have great people in the locker room that grind every day, that are excited to go and showcase their talents and excited to go and do it in the city of Cincinnati.”