Source: Rivers' extension worth $92M

Updated: August 25, 2009, 10:15 AM ET
By Len Pasquarelli | ESPN.com

San Diego Chargers quarterback Philip Rivers, who has thrown for more than 10,000 yards in the past three seasons, has agreed to a new contract extension with the club.

The extension is for six years and is worth $92 million, a source told ESPN.com. About $38 million to $39 million is guaranteed. More importantly, the deal will keep Rivers off the free-agent market next spring, and will preclude the Chargers from having to exercise a franchise designation to retain him.

The agreement ...

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