Running back Christian McCaffrey has reportedly signed a four-year contract extension with the Carolina Panthers, and according to ESPN’s Adam Schefter, the contract makes McCaffrey the highest-paid running back in NFL history.

Carolina’s Christian McCaffrey is signing a four-year extension, averaging $16 million per year, making him the highest-paid running back in NFL history, sources tell ESPN. — Adam Schefter (@AdamSchefter) April 13, 2020

Ian Rapoport of NFL Network reported that McCaffrey’s extension totals $64 million over four years. That puts him at $16 million a year, which edges fellow running back Ezekiel Elliott’s contract with the Dallas Cowboys by $1 million a year. Elliott signed a six-year, $90 million contract with the Cowboys in September.

McCaffrey has been excellent since being drafted No. 8 overall in 2017, with his receiving and rushing ability making him a focus pretty much any time he’s on the field. Last year he tallied 1,387 rushing yards while catching 116 passes for 1,005 yards with 19 combined touchdowns. He’s also the only player with 2,500 rushing yards and 2,500 receiving yards in his first three seasons.

The Panthers have yet to confirm the contract extension, but McCaffrey told Schefter how excited and grateful he is.

Christian McCaffrey: “I’m so excited to continue my career in Carolina. I want to thank Mr. Tepper, Marty Hurney, and Coach Rhule for the opportunity to help lead this great franchise, and to all my teammates for their help along the way. And to Panthers fans, KEEP POUNDING!” — Adam Schefter (@AdamSchefter) April 13, 2020

More from Yahoo Sports: