Cincinnati Bengals sign WR Tyler Boyd to four-year contract extension

July 23 (UPI) -- Cincinnati Bengals wide receiver Tyler Boyd signed a four-year contract extension with the franchise.

The Bengals announced the deal Tuesday, which will keep the receiver signed with the team through the 2023 season. League sources told ESPN that Boyd's deal is worth $43 million.

Cincinnati selected Boyd in the second round of the 2016 NFL Draft out of the University of Pittsburgh. The 24-year-old wideout was set to enter the final season of his rookie contract in the 2019 campaign.

Boyd recorded 76 receptions for 828 yards and three receiving touchdowns in his first two seasons in the league. The 6-foot-2, 203-pound receiver had a breakout campaign last season, recording career highs in catches (76), yards (1,028), touchdowns (seven) and yards per reception (13.5).

According to Pro Football Focus, Boyd ranked 11th in the league with an 85.8 receiving grade. The fourth-year wideout recorded the largest grade increase among wide receivers during the 2018 season, according to PFF.

After the Bengals locked up Boyd to a multiyear extension, the franchise is expected to turn its attention to signing seven-time Pro Bowl receiver A.J. Green, who has one year remaining on his current deal.