According to multiple reports, the deal has a base value of $90 million, with an additional $5 million available through incentives. The contract includes $65 million guaranteed for injury and $41 million fully guaranteed at signing. According to NFL Network, the deal averages $20 million over the first three seasons.
The annual average ($19 million) and guaranteed money are both records among wide receivers, eclipsing Antonio Brown ($17 million annually) and Mike Evans ($55 million guarantee), respectively.
"I never worried whether or not we would get it done," general manager Dave Gettleman told reporters. "I'm pleased, because the litmus test for a contract is that neither side is ticked off before the ink can dry, and neither side should be ticked off. It's a very fair deal."
"Honestly, I don't even know how to explain it," Beckham added. "I don't know if it's a relief, I don't know -- it's a combination of everything. You've worked all your life to get to this point and it's finally here."
Fellow Giants wideouts Sterling Shepard and Roger Lewis each posted videos on social media of Beckham and teammates dancing in celebration in the Giants' locker room.
Beckham, 25, was scheduled to make just under $8.5 million in 2018, on the fifth-year option of his rookie contract. The sides opened negotiations in late July and have steadily made progress since. Beckham has routinely told reporters he expected the situation to work itself out.
A first-round pick in 2014, Beckham racked up 288 catches for 4,122 yards and 35 scores through his first three seasons, all Pro Bowl campaigns. He collected 25 grabs for 302 yards and three touchdowns in four games last season before suffering a season-ending broken ankle.
Beckham has yet to play this preseason, but he is expected to be fully ready for the Sept. 9 regular-season opener against the Jacksonville Jaguars.