Green Bay Packers quarterback Aaron Rodgers has agreed a contract extension with the club in a deal which could be worth up to $180 million, making him the highest-paid player in NFL history, according to reports.

Rodgers, 34, will earn a reported $134 million from the four-year deal – including $80 million by the end of March next year – which could rise to up to $180 million should he meet performance-related targets, ESPN reports.

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The two-time MVP will earn an annual salary of $33.5 million, making him the highest-paid NFL player of all time, overtaking Matt Ryan of the Atlanta Falcons, who is on $30 million per season.

The news also comes just days after New York Giants star Odell Beckham Jr. signed a $95 million five-year deal with the club, setting a pay record for a wide receiver.

Rodgers has spent his entire career at the Packers since being drafted in 2005, and helped the team clinch the Super Bowl in 2011.

He had two years to run on his current deal, which was worth $110 million over five years, and the extension means he will be under contract at the Packers until 2023.

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After news of the new agreement, Rodgers posted a message on Instagram in which he said he was “looking forward to making some more memorable moments this year and for years to come.”

The Packers start the new NFL season against the Chicago Bears on September 9.