The San Francisco 49ers signed quarterback Jimmy Garoppolo to a contract extension Thursday, making him the highest paid player in the NFL.
Citing a source, NFL Network reporter Mike Garafolo was the first to report the total amount of the contract Thursday morning, saying that the 49ers and Garoppolo have agreed to a five-year, $137.5 million contract, "the biggest deal in NFL history on a average-per-year basis."
NBC Bay Area's Raj Mathai was the first to report the agreement.
The annual average pay of $27.5 million eclipses the previous-high contract of Detroit quarterback Matthew Stafford, who signed a deal in August that averages $27 million a year.
The multi-year agreement was considered the top priority of the 49ers’ offseason under general manager John Lynch.
The 49ers acquired Garoppolo in a blockbuster trade with the New England Patriots for just a second-round draft pick prior to the NFL trade deadline. Garoppolo arrived in Santa Clara on Oct. 31 to join his new organization.
At the end of the season, Lynch promised that signing Garoppolo to a long-term contract extension was a top offseason priority.
“You have our assurances – and the fans do – that we’d like nothing more than to make him a Niner for a long, long time,” Lynch said of Garoppolo.
Garoppolo, 26, a four-year veteran, spent his first three games with the 49ers on the sideline in a backup role to rookie quarterback C.J. Beathard. Garoppolo was elevated into the starting lineup on Dec. 3 against the Chicago Bears.
The 49ers went 5-0 with Garoppolo at quarterback. Including his two starts at the beginning of the 2016 season with the Patriots when Tom Brady was serving a four-game suspension, Garoppolo is 7-0 as a starting quarterback in the NFL.
The 49ers’ offensive numbers skyrocketed in every statistical category with Garoppolo, who also was immediately recognized as a leader on the team.
Garoppolo completed 67.4 percent of his pass attempts for 1,560 yards with seven touchdowns, five interceptions and a passer rating of 96.2. His quick release was also instrumental in taking just eight sacks in five games.
NBC Sports Bay Area contributed to this report.