The Indianapolis Colts and wide receiver TY Hilton came to terms on a new long-term contract extension, the team announced Thursday. Terms of the deal were not immediately disclosed, but Ian Rapoport of NFL.com revealed shortly thereafter that Hilton's new contract carries a term of five-years, a total value of $65 million and a guarantee of $39 million.
"It's a great day for the Indianapolis Colts, T.Y. Hilton and his family," Colts General Manager Ryan Grigson said in a release.
"We're extremely happy as an organization to ensure that T.Y. will continue to be a part of our journey for many years to come. His daily excellence on and off the field is a shining example of an individual striving for greatness and what it truly means to be a Colt."
Over three NFL seasons, Hilton has amassed 214 receptions, 3,289 yards and 16 100-yard receiving games. A former third-round pick in the 2012 NFL Draft, Hilton has played a starring role for the Colts offense to this point. With the team bringing onboard a plethora of new talent in the forms of running back Frank Gore and wide receiver Andre Johnson and with the expected development of Coby Fleener, Dwayne Allen and Donte Moncrief, Hilton's target may very well dwindle this coming season.
Wide receivers Dez Bryant and Demaryius Thomas signed nearly identical five-year, $70 million contracts with the Dallas Cowboys and Denver Broncos respectively, during the waning moments leading up to the deadline for franchise tagged players to hammer out new deals, so Hilton's value, while slightly less, is right in line with the top performers at his position.
