Carolina Panthers tight end Greg Olsen will sign a two-year contract extension worth $8.55 million per year with a maximum value of $10.05 million per season, multiple media outlets reported on Thursday.
Olsen was due to make $6.75 million in 2018 during the final season of a three-year extension he signed in 2015.
Olsen recorded 17 receptions for 191 yards and one touchdown in seven games this past season after sitting out nine contests with a broken foot sustained in Week 2. He notched eight catches for 107 yards and a score in the team's 31-26 wild-card loss to the New Orleans Saints.
A three-time Pro Bowl selection from 2014 through 2016, Olsen has 639 receptions for 7,556 yards and 53 touchdowns in 165 career games since being selected by the Chicago Bears with the 31st overall pick in the 2007 NFL Draft.