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Devonta Freeman Signs 5-Year, $41.25 Million Extension With Falcons, Will Be NFL's Highest Paid RB

Atlanta Falcons helmets sitting on the field.

HOUSTON, TX - FEBRUARY 02: Atlanta Falcons helmets on the field during the Super Bowl LI practice on February 2, 2017 in Houston, Texas. (Photo by Tim Warner/Getty Images)

Devonta Freeman and the Atlanta Falcons have agreed to a five-year contract extension.

Devonta Freeman is now the highest-paid running back in the NFL.

On Wednesday morning, NFL Network's Michael Silver reported that Freeman and the Atlanta Falcons agreed to a five-year extension.

Check it out:

The contract is worth $41.25 million, with $22 million in guarantees, per Ian Rapoport.

"This is where I've always wanted to be," Freeman said in an official release. "I want to thank Mr. Blank, Thomas and Coach (Dan) Quinn for all of their support. I feel extremely blessed, but the work and grind are just beginning."

The timing was good for Atlanta to make a deal with Freeman. This offseason the Pittsburgh Steelers failed to reach a long-term deal with Le'Veon Bell, who will make over $12 million this season playing under a franchise tag. He won't be cheap to sign, and it made sense for the Falcons to set the market with a deal this year, rather than overpay next offseason. On Freeman's end, it's a phenomenal deal for one of the most versatile running backs in the NFL.

In three seasons, Freeman has rushed for 2,383 yards and 23 touchdowns, while also catching 157 passes for 1,265 yards and six scores. He's one of the premier running backs in the NFL, and his contract extension is a win-win for both Freeman and the Falcons moving forward.