The Indianapolis Colts signed receiver T.Y. Hilton to a five-year extension worth $65 million on Thursday.
This news was reported by Pro Football Talk, which notes the new contract locks Hilton up in a Colts uniform for six more years at a cost of $66.542 million. He is due $1.542 million for the 2015 season. $39 million is reportedly guaranteed (though we don’t know how much is fully guaranteed, and how much is guaranteed for injury).
The two parties have been working towards this new contract since Dez Bryant and Demaryius Thomas both signed five-year deals worth $70 million on July 15.
Hilton isn’t quite on the same level as those two—legitimate No. 1 receivers who have essentially doubled his touchdown production the past three years. This contract lines up with where he stands in the NFL’s receiving hierarchy.
The Colts expressed excitement that the deal had been finalized on Thursday morning.
“It’s a great day for the Indianapolis Colts, T.Y. Hilton and his family,” Colts general manager Ryan Grigson said in a statement (h/t ESPN). “We’re extremely happy as an organization to ensure that T.Y. will continue to be a part of our journey for many years to come. His daily excellence on and off the field is a shining example of an individual striving for greatness and what it truly means to be a Colt.”
It will be interesting to see if Hilton raises his game this season as he becomes more of a focal point in Andrew Luck’s passing attack. He is now being paid like a No. 1 guy, but it remains to be seen if he can produce like one.