Giants receiver Sterling Shepard, who was set to play out the final year of his rookie deal, is expected to be signing a four-year extension worth up to $41 million, according to a report by the NFL Network.
The deal also includes $21.3 million in guaranteed money according to ESPN, and makes Shepard one of the highest paid slot receivers to get a new contract this off-season.
The four-year extension is in addition to the final year of his rookie deal, which means Shepard is signed through 2023.
He was due a $1.9 million cap hit this year; that number is expected to rise slightly and will depend on what kind of signing bonus he received, the signing bonus set to prorate over the life of the contract, including this year.
Shepard, the Giants second-round pick in 2016, has 190 career receptions for 2,286 yards and 14 touchdowns. Last year, he posted career highs in receptions (66) and yards (872), while also demonstrating prowess as a downfield blocker.
Shepard becomes the second Giants receiver to get a contract extension before hitting the open market, joining now former teammate Odell Beckham Jr., who last year received an extension on what would have been the option year of his rookie contract.