Charlotte, NC (SportsNetwork.com) - The Carolina Panthers signed Pro Bowl tight end Greg Olsen to a three-year contract extension on Thursday.

The Charlotte Observer reports that Olsen's contract is worth $22.5 million and includes a $12 million signing bonus.

Olsen was coming off a career season in which he compiled 84 catches for 1,008 yards, setting new franchise records by a tight end for the NFC South champion Panthers. He also added six touchdown receptions.

"Now to have this contract that guarantees that I'll play the rest of my career in Charlotte is a tremendous blessing," Olsen said. "We're just so thankful for the team believing in me and wanting me to still be a part of this. As a team, we have a lot of special times ahead of us."

The 29-year-old is the only tight end to catch at least five touchdown passes in every season since 2008 and has played in 126 straight games.

Drafted 31st overall by the Bears in 2007, Olsen has recorded 465 catches for 5,188 yards and 42 touchdowns in 126 career games over eight seasons with the Bears and Panthers.