Update: Larry Fitzgerald will sign an eight-year, $120 million contract extension with the Cardinals, league sources have told NFL Network’s Jason La Canfora.
Fitzgerald had one year and $7 million left on his contract and was eligible for unrestricted free agency after this season. Between the final season of his current deal and the first four years of the extension, he will average $17 million per season, according to a league source. The extension is worth roughly $47 million in guaranteed money.
Amid reports throughout the week the Arizona Cardinals were close to reaching a long-term contract extension with Larry Fitzgerald, the team announced it will hold a press conference featuring their star receiver and president Michael Bidwill on Saturday night.
Fitzgerald, who’s in the final year of a four-year, $40 million contract that included $30 million guaranteed, told Sports Illustrated on Thursday that the sides are “closer than we were last week” and “not too far away” from an agreement.
ESPN reported via Twitter that the Cardinals will sign Fitzgerald to an eight-year, $120 million deal that includes close to $50 million guaranteed.