Bills Reportedly Will Sign Kelly to NFL’s Richest Deal

The Buffalo Bills will sign quarterback Jim Kelly to a seven-year contract extension worth about $20 million, making him the highest-paid player in the NFL, the Buffalo News reported today.

The Bills have scheduled a news conference on Friday afternoon to make an announcement about Kelly’s contract.

Kelly, 30, is going into the final year of his original five-year agreement with the Bills. That contract was for $8 million.

The Bills have been negotiating with Kelly since the middle of last season. Team owner Ralph Wilson and General Manager Bill Polian have consistently said they believe that Kelly is among the top players in the NFL and should be paid accordingly.

The News reported that Kelly, whose base 1990 salary is $1.4 million, would get raises starting this fall. Over the life of the extension, his salary is expected to average just under $3 million, the newspaper said.

Whether Kelly remains tops in pay in the NFL will depend on a contract reportedly being worked out with San Francisco’s Joe Montana, who now receives $1.99 million a season. The league’s top earner at the moment is Philadelphia’s Randall Cunningham at a reported $2.6 million a year.

The News said Kelly’s new contract is also expected to include an injury guarantee, meaning that Kelly would continue to be paid should a football-related injury sideline him during the next seven years. The Bills would be protected by an insurance policy.

There are no performance guarantees, however, meaning that if Kelly should be cut by the team, he would not be paid, according to the newspaper.