Chris Mortensen says although Anthony Barr verbally agreed to sign with the Jets, it wasn't binding, so he could change his mind and remain with the Vikings. (1:58)

After telling the New York Jets he intended to sign with them, linebacker Anthony Barr got cold feet, changed his mind and informed the Vikings that he will be returning to Minnesota, a source confirmed to ESPN on Tuesday.

Barr will sign a five-year contract worth $67.5 million with $33 million in guarantees. There are sack incentives worth up to $12 million, a source told ESPN, confirming a report by NFL Network, which first reported the news.

The Jets, prepared to pay Barr about $14 million per year to be an outside linebacker in their 3-4 scheme, now find themselves in need of an edge rusher.

The Vikings opted not to place the franchise tag on Barr. The team would have incurred an estimated $15.7 million cap hit in 2019 with the move.

Barr, 26, was the first draft pick of coach Mike Zimmer's tenure, taken ninth overall in 2014. He transitioned from a 3-4 outside linebacker at UCLA, where he totaled 23.5 sacks from 2012 to 2013, to a 4-3 strongside linebacker in Zimmer's defense.

Although Barr's role transformed in Minnesota, his pass-rushing prowess remained fluid over the past five seasons, during which he notched 13.5 sacks and 31 quarterback knockdowns.

A nagging hamstring injury limited Barr to 13 games in 2018, his fewest since his rookie season. He notched a multi-sack game with two against the Miami Dolphins last season but also finished with a career-low 55 tackles.

Named to four straight Pro Bowls after a breakout year in 2015, Barr was one of four Minnesota players eligible for a contract extension last offseason. Instead, the offseason came and went without the linebacker signing a new deal, thus forcing him to play out his fifth-year option in 2018.

ESPN's Rich Cimini and Courtney Cronin contributed to this report.