SANTA CLARA, Calif. — Brock Purdy agreed to a five-year contract extension worth $265 million with the San Francisco 49ers, going from the NFL’s biggest bargain to one of the league’s highest-paid players.

A person familiar with the deal told The Associated Press that the sides reached agreement Friday on the contract that includes $181 million in total guarantees. The person spoke on condition of anonymity because the team hadn’t announced the deal yet.

NFL Network first reported the deal.

Purdy has made less than $1 million a year for his first three seasons and was set to get a small raise in 2025 to about $5.2 million under the league’s proven performance escalator for making the Pro Bowl last season before reaching this new deal that puts Purdy in the top 10 in quarterback contracts.

After several lengthy contract disputes in recent years, the Niners got this deal done with Purdy with no drama. He reported to the start of the offseason program and now has his new contract before on-field practices start later this month.

Purdy’s journey from the final pick of the 2022 draft to agreeing to this new contract has been a remarkable one that saw him take over as starter late in his rookie season, become an MVP finalist on the way to leading the 49ers to the Super Bowl in 2023 and then solidifying his position last season.

Purdy’s success helped rescue the Niners from a potentially catastrophic mistake after they traded three first-round picks to draft Trey Lance third overall in 2021 only to watch him struggle before getting traded away in 2023.

The Niners took Purdy 262nd overall in the 2022 draft — Mr. Irrelevant as the last pick — and even before his first exhibition game as a rookie, coach Kyle Shanahan had told owner Jed York that Purdy was the team’s best quarterback.

He got the chance to prove that late in his rookie season in 2022 after Lance and Jimmy Garoppolo had gone down with season-ending injuries. Purdy won the final five starts of the regular season and the first two rounds of the playoffs before suffering a serious injury to his throwing elbow early in an NFC title game loss to Philadelphia that season.

But the 108 passer rating, 16 TDs and only four interceptions he had that season proved he was capable as long as he was healthy and he backed that up with a sensational 2023 season.

Purdy had one of the most prolific passing seasons in team history when he finished fourth in the NFL in MVP voting. He set a franchise record for yards passing (4,280) and became the first Niners QB in more than two decades to throw at least 30 TD passes (31). Purdy led the NFL with a 113 passer rating and his 9.6 yards per attempt were the most in the NFL for a qualifying QB since Kurt Warner had 9.9 in 2000.

He helped lead comeback wins over Green Bay and Detroit in the playoffs before falling short against Kansas City in overtime in the Super Bowl.

That success was harder to come by in 2024 as Purdy was hampered by injuries to key offensive players like Christian McCaffrey, Trent Williams and Brandon Aiyuk. His passer rating dropped nearly 17 points to 96.1, he had only 20 TD passes and 12 interceptions on the season, and also came up short in several late-game scenarios when the 49ers had a chance for a comeback win.

Purdy’s play was part of a team-wide downturn that led to a 6-11 record and the first missed playoff appearance for San Francisco since 2020.

But he didn’t lose the support of Shanahan, York or general manager John Lynch, who all expressed a strong desire to make sure Purdy remained the team’s long-term answer at quarterback.