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Jeremy Shockey, starting tight end for the New York Giants, has signed a contract extension, making Shockey the highest paid tight end in the league. It will be a 5 year contract extension, for a total of $26.38 million dollars added on to his current contract, and $13.9 million in various bonuses. The deal was negotiated by Shockey's agent, Drew Rosenhaus. When talking to ESPN.com on Wednesday afternoon after the deal was completed, Shockey said, "It's great to have this behind me and to know that I'm going to be with the Giants and with this group of guys for a long time. It's a team that traded up in the [2002] draft to get me, a team that's been good to me, and it's where I wanted to be. This is a big relief and it means I can just concentrate on playing football. The great thing is we did it really quietly. No one knew about it, no one knew [the negotiations] were going on, so it never became a distraction. I'm grateful to everyone involved, to Drew, the Giants, everybody."

The initial signing bonus for his new deal is $3 million dollars, but there is also a bonus option for March, 2006 for $7.5 million dollars which is guaranteed for injury. Additional bonuses include $1 million roster bonus for 2007, and $2.4 million for reporting through 2011. The base salaries for the contract are:

2005 - $900,000
2006 - $950,000
2007 - $850,000
2008 - $2.225 million
2009 - $3.25 million
2010 - $3.825 million
2011 - $4.508 million

*Beginning in 2006, there is a clause in the contract that can reduce the base contract by up to $300,000 a year if certain performance levels are not met.