The deal is for five years and is worth $65 million — $39 million of which is guaranteed, agent Drew Rosenhaus confirmed.
Hilton’s $39 million guaranteed is nearly twice as much guaranteed money as any other player on the Colts roster. Quarterback Andrew Luck is second on the team in that category at $22.1 million, according to the Roster Management System.
“It’s a great day for the Indianapolis Colts, T.Y. Hilton and his family,” Colts general manager Ryan Grigson said in a statement. “We’re extremely happy as an organization to ensure that T.Y. will continue to be a part of our journey for many years to come. His daily excellence on and off the field is a shining example of an individual striving for greatness and what it truly means to be a Colt.”