ESPN's Adam Schefter first reported the news on Gurley's contract extension, which includes $45 million in guaranteed money. The two-time Pro Bowl selection's average annual salary and guaranteed money represent the most for any running back in NFL history.
The contract extension ties Gurley to the Rams through the 2023 season and effectively resets the running back market in the NFL.
The 10th overall pick of the 2015 NFL Draft, Gurley had one year remaining on his rookie contract -- plus a fifth-year option that the team had already exercised.
Gurley is coming off a monstrous season in 2017 in which he led Los Angeles to the NFC West title. The 23-year-old became the first Rams player to win the AP Offensive Player of the Year award since Marshall Faulk in 2001.
The former University of Georgia product led the NFL in touchdowns (19), points scored among non-kickers (114) and scrimmage yards (2,093) in addition to finishing second in rushing yards (1,305). He also topped the league's running backs in receiving yards with 788 and his average of 6.1 yards per touch was the best in the NFL.
Gurley's reported deal will likely serves as music to the ears of two other high-profile running backs who will be seeking new deals in the future -- Arizona Cardinals star David Johnson and Dallas Cowboys stud Ezekiel Elliott (Dallas).
Le'Veon Bell, who has received the franchise tag in two straight years with the Pittsburgh Steelers, had been bidding to reset the running back market due in large part to his effectiveness in the passing game. He will play on the $14.5 million franchise tag in 2018.
"As a player I definitely feel where he's coming from," Gurley told NFL Network of Bell last week. "I don't know exactly what he wants. But if he did what he did I'm pretty sure in his mind he did the right thing. I definitely stand behind him and definitely support him. I wanted him to get that long-term deal but unfortunately it didn't work out. He's playing on the tag for the second time, which is not bad at all, but you know you just want that security.
"It's definitely a sad situation for a guy to be a top-three back since he's came into the league and put in the work and can't even get the money that he deserves. Definitely a sad situation."