The NFL Insiders discuss CB Robert Alford's $38 million extension to remain with the Falcons for another four years. (2:27)

The Atlanta Falcons signed Robert Alford to a four-year contract extension, keeping one of their starting cornerbacks from hitting the open market after the season.

The Falcons announced the signing Thursday. The deal is worth $38 million and includes $21 million guaranteed, league sources told ESPN's Adam Schefter.

"It feels good," Alford said of the extension. "It feels good to be in the same place. I love it here. I love the coaching staff. I love Coach (Dan) Quinn. Just for them to give me the extension, I'm very blessed. That's all I can say."

Alford, 28, was a second-round draft pick in 2013 out of Southeastern Louisiana. He became a regular starter during his second season and has started all 12 games this year.

Cornerback Robert Alford, who would have been a free agent after the season, has signed a four-year contract extension with the Falcons. AP Photo/John Bazemore

"Robert loves the culture and the organization and the city, and he believes there's something special going on here," said Brian Mackler, Alford's agent. "He wanted to be part of it for the next four years and become a Falcon for life."

Alford is the second player to receive an extension this season, joining right tackle Ryan Schraeder, who received a five-year, $33 million extension. Owner Arthur Blank also rewarded general manager Thomas Dimitroff with an extension through 2019.

Alford was one of two cornerbacks the Falcons drafted in 2013, joining first-round pick and fellow starter Desmond Trufant. Trufant is on injured reserve after undergoing pectoral surgery, but the 2015 Pro Bowler figures to be rewarded with a lucrative extension. The Falcons exercised the $8 million fifth-year option on Trufant's contract through 2017.

Alford was in the last year of his deal. Because of his speed and athleticism, he was destined to attract some type of attention had he hit the open market. Although Alford has struggled at times with penalties, the Falcons think he can thrive in Quinn's defense.

"It's the speed that he plays with out on the outside and the ability to match up on different guys,'' Quinn said. "He's got the versatility to also play nickel. ... He's got a real awareness for the football in terms of going after it and ballhawking."

Alford leads the team with 12 passes defended to go with two interceptions. He is fifth on the team with 47 combined tackles.