The Carolina Panthers are signing star running back Christian McCaffrey to a four-year, $64 million extension that will make him the highest-paid running back in NFL history, per ESPN's Adam Schefter.

Following news of his new deal coming out, McCaffrey gave the following quote, per Schefter:

"I’m so excited to continue my career in Carolina. I want to thank Mr. Tepper, Marty Hurney, and Coach Rhule for the opportunity to help lead this great franchise, and to all my teammates for their help along the way. And to Panthers fans, KEEP POUNDING!"

Schefter notes that McCaffrey was able to garner such a high annual value on his new deal because he a productive receiver in addition to being a productive rusher. Last season the 23-year-old had a season for the ages, first breaking the record he previous set for the most receptions in a single-season by a running back with 116, while also becoming just the third player ever at the position to rush for 1,000 yards while also accumulating 1,000 receiving yards. When it was all said and done, the 2019 First-team All-Pro finished last season with 1,387 rushing yards and 15 touchdowns to go along with 1,005 receiving yards and four receiving touchdowns.

McCaffrey, who is the son of former NFL wide receiver Ed McCaffrey, has spent all three of his previous seasons in the league with the Panthers after being selected eighth overall by the team in 2017.