According to Mike Garafolo of the NFL Network, Jimmy Garoppolo is now a very rich man after agreeing to the largest annual salary in NFL history.

Garafolo reports the the former New England Patriots backup quarterback, who was sent to San Francisco in a surprise trade last season, has agreed to a new five-year, $137.5 million deal with the 49ers. Although it’s not the largest overall contract in NFL history, it is now the most valuable contract the league has ever produced in terms of average annual compensation (sitting at $27.5 million per year). The deal reportedly comes with $74 million in guaranteed money.

To put that contract into perspective, Garoppolo made $386,000 in base salary in 2017, plus a $213,000 signing bonus. So this contract is a considerable upgrade.

Garoppolo only started two games for New England in three seasons, during Tom Brady’s four-game deflategate suspension in 2016. After being traded to the lowly 49ers (1-10 when he arrived) in October 2017, he quickly was installed as their starter and rattled off five straight wins to close the season, allowing the team to finish 6-10.