The Houston Texans made it official on Tuesday term contract.
Details were not disclosed, but Foster's agent on Monday tweeted that it was a five-year contract. The Houston Chronicle reported it to be worth $43.5 million with $20.75 million in guarantees.
"I think both sides expressed that they wanted to get a deal done," Foster said Tuesday. "I'm very thankful that we have an organization that reached out. They didn't have to come to me with a deal. They still had the rights to me for the next two or three years. They didn't have to do this. They did it off of the fact that as a player that has been playing good for 'X' amount of years and they wanted to take care of that player and take care of their organization and solidify that they want to be a team in this league to compete at a high level. I'm very fortunate that they were able to see that and they did that."
Foster was the NFL's rushing champion in 2010, finishing the campaign with 1,616 yards to go with 18 touchdowns, and followed it with 1,224 yards and 10 scores in 2011. He played just 13 games this past season, missing the first three games because of a hamstring injury suffered in the preseason.
Houston reached the postseason for the first time this past season and Foster finished with 285 yards and three touchdowns in his two playoff games -- a win over Cincinnati and a loss to Baltimore.
The 25-year-old Tennessee product has been a Pro Bowl selection each of the last two years and has rushed for 3,097 yards in 35 games over his first three years. He played just six games as a rookie in 2009.
Foster would have become a restricted free agent this month and could have been slapped with a franchise tag by the team on Monday if a deal had not been reached.