The Dallas Cowboys and veteran quarterback Tony Romo have reached agreement on a "blockbuster" six-year extension that will make Romo the highest-paid player in Cowboys' history, ESPN's Adam Schefter reports.
According to Ian Rapoport of the NFL Network, Romo's new deal with the Cowboys is worth $108 million and includes $55 million in guaranteed money.
Romo, who turns 33 in April, is scheduled to earn $11.5 million base salary in 2013, which is the final season of his current contract. Romo is technically signed through the 2016 season, but the final three seasons of that contract will void after this season.
In terms of guaranteed money, Romo's $55 million ranks behind fourth behind New Orleans Saints quarterback Drew Brees ($60.5 million), Denver Broncos quarterback Peyton Manning ($60 million) and New England Patriots quarterback Tom Brady ($57 million), but ahead of the $52 million that Joe Flacco received from the Baltimore Ravens.
Rapoport reported on Thursday that the Cowboys would not be able to use the franchise tag on Romo after the season. In the wake of that report, "Shutdown Corner" noted that even if the Cowboys could use the tag on Romo, his $16.818 million cap hit this season would result in a one-year franchise tender worth $20.1 million, which is too great of a cap hit for the Cowboys to take next season as it would be accompanied by $8.181 million in signing bonus proration that would accelerate onto the Cowboys' cap if his current deal were allowed to void.
Originally signed by the Cowboys as an undrafted free agent out of Eastern Illinois in 2003, Romo became the starter during the 2006 season and has passed for 25,737 yards with 177 touchdowns and 91 interceptions over the last seven seasons. Romo was a Pro Bowler in 2006, 2007 and 2009, but has passed for over 4,000 yards with 25-plus touchdowns in each of the last two seasons.
Memorable Moments from Yahoo! Sports:
Other popular content on Yahoo! Sports:
• Tom Izzo's son goes with head over heart in Duke-MSU match
• Kobe injury adds to Lakers woes as they hobble toward finish line
• Tigers ace Justin Verlander signs record five-year extension
• Giants' Buster Posey gets record deal for a catcher