Chubb – who was entering the final year of his rookie contract – receives an additional three years that will pay him a little less than $37 million and features an average salary of about $12.5 million per season, according to a person with knowledge of the situation.
Chubb will have guaranteed money of between $18 million and $20 million over the first two seasons of the extension.
The extension keeps Chubb in Cleveland through 2024, when he’ll turn 29 in December. The new-money average ranks sixth in the NFL. The top five paid running backs in the NFL are Christian McCaffery ($16,015, 875), Ezekiel Elliot ($15 million), Alvin Kamara ($15 million), Dalvin Cook ($12.6 million) and Derrick Henry ($12.5 million).
Chubb has 3,557 rushing yards and 28 rushing touchdowns along with 72 receptions for 577 yards and two receiving touchdowns in 44 career games since the Browns made him a second-round choice in 2018.
According to Pro Football Focus, Chubb is the No. 4 running back in the NFL heading into the season. He ranked second among qualified running backs in averaging 5.6 yards per carry in 2020.
Over the past two seasons, he has the best broken-tackle rate in the NFL, with 124 on 488 carries.
His 88.9 rushing yards per game ranked third in the NFL behind Derrick Henry and Dalvin Cook.
Chubb is now one of the league’s highest-paid running backs, and he should have at least another opportunity for another payday.