Report: Olsen's 2-year Panthers extension could make him highest-paid TE

The Carolina Panthers are signing tight end Greg Olsen to a two-year contract extension that will give him a chance to become the highest-paid player at his position, a source told Adam Schefter of ESPN.

The deal is reportedly worth $8.55 million per season, but has a maximum value of $10.05 million annually.

Olsen, who's spent the last seven seasons in Carolina, previously auditioned for the Monday Night Football analyst job but said he was intent on continuing his playing career. Set to enter the final campaign of his contract, he made it no secret he wanted a new deal.

Olsen was set back by a foot injury last term but posted three consecutive seasons of 1,000-plus receiving yards before that.

The 33-year-old broke into the NFL as a first-round pick of the Chicago Bears in 2007.