Report: Jordy Nelson, Packers Agree to Four-Year, $39 Million Extension

It appears the Packers have won at the negotiating table again.

According to reports, the team has signed top receiver Jordy Nelson to a four-year, $39 million extension. The deal is believed to include $11 million in guaranteed money. Assuming the extension is tacked onto Nelson's existing contract, it would expire just as Aaron Rodgers enters the final year of his deal.

Less than a week ago, reports surfaced that Nelson's camp sought a new deal averaging $10 million or more annually. While the final deal falls just below that mark, it brings him much closer to the going rate for star receivers in the NFL.

Still, the extension looks like an outright bargain compared to other deals given to top receivers. Last offseason, the Dolphins signed Mike Wallace to a five-year, $60 million contract. Around the same time, Dwayne Bowe and the Chiefs agreed to a five-year, $56 million pact. Despite their larger salaries, neither wideout has been as consistently productive over the last three seasons as Nelson.

With Nelson's extension complete, the Packers can turn their attention to fellow receiver Randall Cobb. Cobb's current contract expires at the end of the 2014 season.