Rivers extends contract with Chargers

SAN DIEGO, Aug. 24 (UPI) -- The San Diego Chargers announced Monday that quarterback Philip Rivers had signed a contract extension through 2015.

The San Diego Union-Tribune reported the six-year extension will guarantee Rivers $38 and that he will make $92 million if he plays for the life of the deal. His contract had been due to expire after this season.

"This is a good day for the Chargers and Chargers fans," said Dean Spanos, the team president. "Philip has proven he has all of the necessary qualities to be a successful quarterback in the NFL. He's a proven winner and an unquestioned leader for this football team."

Rivers was the fourth player selected in the 2004 draft. He was taken by the New York Giants, who sent him to the Chargers in a pre-arranged deal that included Eli Manning going to New York.

San Diego has reached the playoffs every season since Phillips became the No. 1 quarterback in 2006, when he was also named to the Pro Bowl. The Chargers reached the AFC title game in 2007 before losing to New England.

Phillips had an NFL-best passing rating of 105.5 last season, breaking the club record owned by Dan Fouts. Phillips completed 312-of-478 passes for 4,009 yards and 34 touchdowns.