The Indianapolis Colts and quarterback Jacoby Brissett have agreed to a two-year, $30-million deal, which includes $20 million guaranteed at signing, sources told NFL Network's Ian Rapoport.

The Colts, who confirmed an extension was signed, anointed Brissett their starting quarterback after Andrew Luck's shocking retirement in August.

Brissett was entering the fourth year of his rookie deal. The new agreement is not an extension, but a straight two-year contract that keeps the quarterback with the Colts through the 2020 season, according to ProFootballTalk's Mike Florio.

Indianapolis acquired the 26-year-old from the New England Patriots days before the 2017 season. Brissett was soon named the team's starter with Luck nursing a shoulder injury and went on to throw for 3,098 yards with 13 touchdowns and seven interceptions. The Colts went 4-12 that season.

The former third-round pick will have big shoes to fill under center, as Indianapolis is coming off a 10-6 season and a divisional round appearance with Luck at the helm.

General manager Chris Ballard threw his complete faith into Brissett after the team tabbed him as the starter, calling him a "winning football player in this league" who's loved in Indianapolis' locker room.

The Colts signed Brian Hoyer on Monday to be their No. 2 quarterback.