Philip Rivers agrees to contract extension with Chargers

Philip Rivers will be with the San Diego Chargers for the foreseeable future as the quarterback agreed to a contract extension, the team announced on Saturday night.

A source told FOX Sports 1 NFL Insider Mike Garafolo that the deal is worth $84 million over four new years with $65 million in guaranteed money.

The extension comes as team chairman Dean Spanos has angered many Chargers fans by exploring a move to the Los Angeles area.

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Rivers' current deal was set to expire at the end of the season. He has said he'd be OK playing out the deal, but also said he'd be open to an extension, as long as talks didn't drag out into the season.

Rivers has been San Diego's starting quarterback since 2006.

-- The Associated Press contributed to this report