Goodell signs five-year extension

(Photo by Rich Graessle/Icon Sportswire via Getty Images)

(TSX / STATS) -- Roger Goodell signed a five-year contract extension to remain the commissioner of the NFL, according to a memo sent to league owners from the compensation committee on Wednesday.

ESPN's Adam Schefter reported, citing a source, that Goodell's contract is expected to pay him about $40 million per year and includes incentives. Darren Rovell, also of ESPN, reported the five-year deal could be worth twice as much annually as the first 10 years that Goodell was commissioner, during which he made $212.5 million.

Goodell, 58, has earned more than $200 million since he was elected NFL commissioner in 2006, succeeding Paul Tagliabue. Goodell first joined the league as an intern back in 1982.

"Our Committee unanimously supports the contract and believes that it is fully consistent with 'market' compensation and the financial and other parameters outlined to the owners at our May 2017 meeting, as well as in the best interests of ownership," the memo said. "... We are pleased to report that there is a nearly unanimous consensus among the ownership in favor of signing the contract extension now."

Goodell's new deal, which runs through 2024, had been a contentious issue throughout the 2017 season. Dallas Cowboys owner Jerry Jones recently threatened to sue the NFL if the extension is approved before rescinding that threat.

The six-member compensation committee, headed by Atlanta Falcons owner Arthur Blank, was granted permission to negotiate the extension on behalf of the league's 32 owners. Jones was removed as a non-voting seventh member of the committee after his threat of a lawsuit.

Blank told The MMQB that he spoke with Jones recently and that the Cowboys owner "understands the contract and how we got here."

As for the deal itself, Blank is thrilled that it's done.

"I'm happy that it's over. I was just telling Roger that, in the history of the NFL, I'm not sure a big decision has been so transparent as this one," Blank told The MMQB. "We got a lot of input from a lot of owners, a lot of guidance from them, and we feel very good about what developed out of that."

Goodell's extension would keep him in place through the league's negotiations for its next collective bargaining agreement with the players' union and its next set of television contracts.

Updated December 6, 2017